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Monday, December 19, 2016

SGX Nifty - Ichimoku Weekly Study - Hide and Seek - Week 3 of December 2016.







Zoom into Chart (Click)



Introduction / Primer to Ichimoku can be read at this link (click)




Learning from the Earlier Study: (click here for the previous post)

Index closes below the Monthly Resistance Line.
Chikou Span reverses and makes a bearish cross with the Price line (see extreme left) .
Chikou Span back in the congestion zone for now.


Wrap;
Index slips below the Monthly Resistance line even as the Chikou Span plays 'Hide and Seek' with the Price line (see extreme left)






Looking Forward into this Week:


Bears want to keep the index below the Kijun Sen - Weekly resistance - and aim for the Kumo.
Chikou Span - in the congestion zone - should stay above the price line (extreme left) for Bulls  to continue up.
Tenkan Sen Cross is the next Bull ask.


Wrap:
Bears want more red on the screen and life below the Monthy Support.
Bulls look to clear the Monthly resistance again and restart the Up-move.