Monday, May 29, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Doji below 113% - Week 5 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)

Index makes a Doji candle below the marked Fibonacci 113% (of the Last major 'High Low') and on the August 2015 High as marked.

Chikou Span (White) stays, way above the Price line (extreme left).

Bulls defend the August 2015 High with the weekly action showing Indecision (Doji). 


Looking Forward into this Week:

Bears hope to get below the Tenkan Sen and close the Island Gap in the candles.
Bulls seek to maintain the current Higher High - Higher Low.

Senkou Span A&B way apart - favors Bulls.


Hopeful Bears want a Double Top and life below the August 2015 High (Center).
Bulls look to trend along, all the way to the 162% Fibonacci retrace..