Monday, July 17, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Tenkan Sen to Kijun Sen - Week 3 of July 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 meets resistance at the Tenkan Sen (weekly - blue), after take off from Support at the Kijun Sen (weekly -  red).

Senkou Span A & B converge (right extreme of cloud).

Index after producing a High Wave candle at Support shoots up to resistance. 


Looking Forward into this Week:

Bears need life below the Kijun Sen (red line).
Bulls want to resume the up trend above the Tenkan Sen.

Senkou Span A&B converging - favors Bears.


Bears seek to keep the index below the Tenkan Sen and get below the Kijun Sen.
Bulls look to trend up, clearing the resistance (blue line) and the old High as marked.