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Monday, February 27, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - @ Old Resistance - Week 1 of March 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)

Keeping above support @78.6% Fibonacci retrace (between last major High and Low), Index makes a run for the previous High.

Chikou Span (white) above the Price line (see extreme left). .Tenkan Sen and Kijun Sen meet.
Resistance (blue) line the previous High was reached by Bulls.

Wrap:
index takes off from support and returns from Resistance marked.




Looking Forward into this Week:


Bears pray for a Bearish deflection of the Tenkan Sen and the Kijun Sen next.
Chikou Span - needs to stay above the Price line to keep the Bull move alive.
Life above the September 2016 high
 (marked) is the Bull ask.



Wrap: 
Bears hope to prevent a Higher High and get Index back below Weekly Support. 

Bulls plan to make a dash above the September High and make a Higher High.