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Monday, December 26, 2016

SGX Nifty - Ichimoku Weekly Study - Bears Up - Week 4 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)

Bears manage to get the Index below the Monthly Support Line.
Chikou Span still has a bearish cross with the Price line (see extreme left) .
Chikou Span in the congestion zone for now.


Wrap;
Index yoyos between the Monthly Support and Resistance lines. 




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 - could hug the Price-line, tracing its steep up move.
Tenkan Sen Cross is the next Bull ask.


Wrap:
Bears want more red on the screen and life in the Kumo.
Bulls look to take off from the Monthly Support line and restart the Up-move.


Brent Crude Oil - Ichimoku Weekly Study - Resistance holds - Week 4 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 once again closes below Monthly Resistance with a Doji indicating indecision.  
Monthly Resistance Line (Kijun Sen on Month Chart) was again the zone of resistance.   
Chikou Span, stays above the Kumo (see extreme left).


Wrap:   
Chikou Span above the Kumo, Index held  back  by the Monthly Resistance.




Looking Forward into this Week:

Bulls want to stay above the Kumo and take out the Monthly resistance (Center).
Bears want to see - the index below the Weekly resistance and the Chikou Span into the Kumo.  
Higher Highs and Higher Lows is the way forward for Bulls - keeping  above the Kumo.


Wrap:
Bears want the index below the Tenkan Sen (Weekly resistance) and Chikou Span inside the  Kumo. 
Bulls after the consolidation, eye life above the Monthly Resistance.