Monday, August 7, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Range Narrows - Week 2 of August 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 spans the Range marked between the Tenkan Sen (Blue) and Kijun Sen (red) perfectly.

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

Index spans the range and closes the week at the top end. 


Looking Forward into this Week:

Bulls seek a Break above the Blue Tenkan Sen.

Senkou Span A&B converging (extreme Right) - favours Bears.
A deflection of the Tenkan Sen and Kijun Sen (centre) - is the Bull ask.


Bears seek to keep the index below the Tenkan Sen and head for the Kijun Sen.
Bulls after closing last week neat the blue line, look to trend up, clearing the resistance (blue line) and the old High as marked.