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Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Index clears the BT Channel Resistance (see last week's post) and heads for the target 10500+.
Bulls retain honors for a Higher High and Higher Low.
Ichimoku Signals all move up in concert.
Wrap:
Index takes off above the Tenkan Sen and is near target the Fibonacci 162% (of last major Hi Lo) marked above.
Looking Forward into this Week:
Bulls want to keep up the momentum and reach the 162% Fibonacci, after the higher high and higher low.
Bears need to make a Lower Low and break the Kijun Sen (red line).
The Broadening Top Pattern (see last week's post) had different probabilities for Bulls and Bears - it favored the Bulls - Bears expect a throw back.
Wrap:
Bulls intend to keep above the Tenkan Sen and reach the 162% Fibonacci (10500+).
Bears seek life below the Kijun Sen with help from the Resistance line.
