Monday, May 8, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - Hovering @ All Time High - Week 2 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 hover around the All time High (ATH). 

Chikou Span (white) points up (see extreme left). 
The Tenkan Sen (blue) was Support to take Index to a new high.

Bulls after the 'All Time High', hover there. 

Looking Forward into this Week:

Bears hope that the resistance at the ATH, can result in some downside.
Chikou Span, preferably, needs to stay pointed away from the Price line, to keep the Bull move, going.
Bear wish list, sees life below the March 2015 High, and a crash to sub 7070 levels.

Bulls riding the Bullish 'Tenkan Sen- Kijun Sen Cross', want to stay above support at the Tenkan Sen (blue line) and make new ATHs

Bears, hope to get the index below the Tenkan Sen, and dive to the Kijun Sen (red line).