Monday, February 19, 2018

Nifty (Asia India) - Ichimoku Weekly Study - Channel Bottom Hold - Start of Week 4 of February 2018
chart > 

Introduction & Primer to Ichimoku can be read at this link > click.


Index again takes to the Channel Support near the 162% Fibonacci (of the 2015 low to 2016 high).
Index keeps above the Red Kijun Sen Support (10434), last week.


Bulls hope to hold above the cluster of support lines shown.
Bears want to force a lower low, after closing below the red support line (10434) above.


Bulls seek to use current support, to keep above the Kijun Sen and target the 200% Fibonacci once again.
Bears, seek to keep up the momentum, with a 'lower low' (sub 10033).