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).

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.

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).