Monday, May 15, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - 'All Time High' @ 113% - Week 3 of May 2017.

Zoom into chart .. Click 

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

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

Bulls continue to make new All time Highs (ATH) now at Fibonacci 113% of the last major Range. 

Chikou Span (white) points up (see extreme left). 
The Tenkan Sen (blue) was Support, which Index launched itself from, to this new high.

Bulls make another 'All Time High', just below the Fibo 113%. 

Looking Forward into this Week:

Bears hope that the resistance at current ATH, can result in some downside.
Chikou Span, preferably, needs to stay pointed away from the Price line, to keep the Bull move, going.
Bear wish list, sees life below the Tenkan Sen, and a crash to sub 7070 levels.

Bulls riding the Bullish 'Tenkan Sen- Kijun Sen Cross', want to stay above support at the Tenkan Sen (blue line) and aim for 9600+.

Bears, hope to get the index below the Kijun Sen (red line) and aim for sub 7070 levels.