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 moves from support at the Kijun Sen (red line) to resistance at the Tenkan Sen (Blue line).
Tenkan Sen (Blue) above the Kijun Sen (red line).
Chikou Span, plays peek a boo with the Price Line (left).
Bulls maintain the Higher High. Index in range.
Looking Forward into this Week:
Cross (left) of the Chikou Span clearly above the Price Line, will give the advantage to the Bulls.
Bears now hope for a retreat to the Kumo.
Tenkan Sen (Blue) and Kijun Sen (red line) is current range, to break out from.
Bears after slowing the momentum, and getting more red on the screen, seek to get the index below the Kijun Sen (red line).
Bulls after making a Higher High, want the next Fibonacci level after clearing the Tenkan Sen.