Monday, May 22, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - Un-decided @ 113% - Week 4 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 hesitating 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', hesitating at the Fibo 113%. 

Looking Forward into this Week:

Bears hope that the resistance at the Fibonacci 113% as above, can result in some downside.
Chikou Span, preferably, needs to stay pointed away from the Price line, to keep the Bull move, going.

Bulls riding the Bullish 'Tenkan Sen- Kijun Sen Cross', want to clear 9545 and aim for 9600+.

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