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Monday, January 16, 2017

SGX Nifty - Ichimoku Weekly Study - Weekly Resistance Holds - Week 3 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 after making a Higher High, reach the Weekly resistance precisely.
Chikou Span (white line) still has a bearish cross with the Price line (see extreme left) .
Kijun Sen (red line) was the High and near close for the week.


Wrap;
Index has third big green week and pauses near the Weekly Support line.  




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 - could hug the Price-line, tracing its steep up move.
Life above the Tenkan Sen (blue line) is the Bull ask.


Wrap: 
Bulls look to clear the Weekly Resistance line, and continue to the previous High. 
Bears want some red on the screen after a precise stop at the Kijun Sen (and (google) 'Three White Soldiers').