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Monday, March 6, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - Resistance Skirmish - Week 2 of March 2017.





Introduction / Primer to Ichimoku can be read at this link (click).
 


Learning from the Earlier Study: (click here for the previous post)

Index has a skirmish with the September 2016 High.

Chikou Span (white) above the Price line (see extreme left). 
Tenkan Sen and Kijun Sen make a Bullish Cross.

Wrap:
index takes off from support and is negotiating the previous High - with a Strong Bullish Cross to back it.




Looking Forward into this Week:


Bulls get a Tenkan Sen and Kijun Sen cross - which is a strong Bullish Signal.
Chikou Span - needs to stay above the Price line to keep the Bull move alive.
Bears after defending the September 2016 High - would want  to keep the space.



Wrap: 
Bears would want to defend the current  close and get Index back below Weekly Supports. 

Bulls plan to go Higher on the back of the Bullish 'Tenkan Sen- Kijun Sen Cross'.