Monday, January 2, 2017

SGX Nifty - Ichimoku Weekly Study - Kumo Deflection? - Week 1 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)

Bulls deflect the index from the Kumo and Weekly Support Line.
Chikou Span (white line) still has a bearish cross with the Price line (see extreme left) .
Chikou Span in a congestion zone for now.

Index deflects near  the Kumo - Bulls get green.  

Looking Forward into this Week:

Bears want to keep the index below the Kijun Sen (red line) - Weekly resistance - and aim for life inside the Kumo.
Chikou Span - in the congestion zone - could hug the Price-line, tracing its steep up move.
Tenkan Sen (blue line) Cross is the next Bull ask.

Bears want more red on the screen and life in the Kumo.
Bulls look to take off from the Weekly Support line and continue the Up-move.