Tuesday, May 9, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Bulls Run - Week 2 of May 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)

Bulls after making a higher low off the Tenkan Sen, Run up to above the Previous High.

Index shoots off to just under the Fibo 113% of the Last major High Low.
Chikou Span (White) stays, way above the Price line (extreme left).

Bulls run up after taking support at the Tenkan Sen(Blue Line). Bears hold the 113% Fibo. 


Looking Forward into this Week:

Bears hope to hold the resistance line 113% Fibo, and move the index down.
Bulls want to maintain the current Higher High - Higher Low.

Senkou Span A&B way apart - favors Bulls.


Hopeful Bears want a Double Top and life below the Tenkan Sen (Center).
Bulls look to trend, all the way 162% Fibo.