Monday, February 13, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Double Doji - Week 3 of February 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 makes the Tenkan Sen a resistance with last week showing another massive Doji.
Chikou Span (White) flattens  with inaction (extreme left).

Last week was a second Doji and index slipped under the Tenkan Sen.


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 near a strong support.
Bulls have the choice of the Tenkan Sen, Kijun Sen or Kumo for Support

Bulls in pause mode, still look good to take support and trend up.
Bears seek to keep index below the Tenkan Sen (Center - Weekly Support).