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Monday, January 30, 2017

CAC 40 - Ichimoku Weekly Study - Bull pause - Week 5 of January 2017.







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 stays pointed towards the Tenkan Sen despite a mid week pop up.
Chikou Span (White Indicator) points down (extreme left).

Wrap:
Dragon fly Doji's still in play as the index points down in a green week.

 



Looking Forward into this Week:


Bears want to get the Chikou Span headed back towards the Kumo (extreme left).
Bulls having achieved a higher high (weekly close) now look to go bottom out.
Bulls seek support before the Tenkan Sen.


Wrap:
 
Bulls in pause mode, still look good to take out old Highs.
Bears seek to keep the index going towards the Tenkan Sen (Center - Weekly Support).