Tuesday, May 2, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Support to Resistance 5285 - Week 1 of May 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 bounce off the Tenkan Sen the previous week, make a higher low.

Index shoots off to just under the August 2015 High.
Chikou Span (White) spikes, way above the Price line (extreme left).

Index after taking support at the Tenkan Sen(Blue Line), Shoots  off to the Resistance line 5284.


Looking Forward into this Week:

Bears hope to hold the resistance line 5284 and make a double top,
Bulls want to maintain a Higher High - Higher Low.

Senkou Span A&B way apart - favors Bulls.


Hopeful Bears want a Double Top and life below the Tenkan Sen (Center).
Bulls look to trend, way above 5285 and prevent a Double Top.