Learning from last Week: (click here for the previous post)
Patterns:
The Index takes off from the Middle Tyne of the Weekly Fork for yet another All Time High #Weeklychart.
Support & Resistance:
Support was around the weekly 5 EMA and Resistance was at the middle Tyne of the Day fork #Dailychart.
Moving Averages:
The critical EMA5, is bullishly above the MA13, on all three charts above.
Indicators:
The RSI shoots from 50% to the oversold #WeekChart.
Wrap:
Bulls make yet another ATH and Higher high.
Looking forward into this Week:
Patterns:
Bulls seek the top Tyne of the Month fork and a Higher ATH #MonthlyChart.
Support & Resistance:
Middle
Tyne of the Week Fork, is now support and the Top Tyne of the Month Fork is resistance.
Moving Averages:
5 EMA on the Day chart, is the mark, that the Bear want to get below, sometime this week #DailyChart.
Indicators:
STS is in the over sold #DayChart.
Wrap:
Bears want to use the mid fork resistance on the Daily Chart and get some traction #Dailychart.
Bulls seek seek the Long term Channel top and a new ATH (2292) #MonthChart.
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Monthly resistance line demolished as a massive Kumo Breakout happens.
All signals are currently Bullish.
Chikou Span hovering near the Kumo top (extreme left)
Wrap:
Monthly Resistance line demolished as Bulls get their Kumo Breakout.
Looking Forward into this Week:
Bears want to get the Chikou Span back inside the Kumo (extreme left).
Longs having achieved a higher high (weekly close) now look to keep the momentum going.
Bulls now look to keep above the Tenkan Sen and not allow the Bears any leeway.
Wrap:
Bears look to get below the Tenkan Sen, after getting the Chikou Span inside the Kumo.
Bulls look at continuing life above the Weekly Resistance after the massive Kumo Breakout.
Introduction / Primer to Ichimoku can be read at this link (click)
Learning from the Earlier Study: (click here for the previous post)
Index pops above the Monthly Resistance Line.
Chikou Span reverses and makes a bullish cross with the Price line ('strong signal' as the Bulls managed it, when the index was above the Kumo - see extreme left) .
Chikou Span clears the congestion zone for now.
Wrap;
One Strong Bullish Signal vetoes all the Weak bearish signals, index above Monthly Resistance line.
Looking Forward into this Week:
Bears want to keep the index below the Kijun Sen - Weekly resistance - and aim for the Kumo.
Chikou Span - above congestion zone - should stay above the price line (extreme left) for Bulls to continue up.
Tenkan Sen Cross is the next Bull ask.
Wrap:
Bears want red on the screen and life below the Kijun Sen (Weekly resistance)
Bulls look to clear the weekly resistance (Kijun Sen) to make this Bull trot viable.
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 the massive up move of the previous week, stay below Resistance with a Doji.
Monthly resistance Line (Kijun Sen on the Month Chart) was again the area of return.
Chikou Span, pops above the Kumo (see extreme left).
Wrap:
Chikou Span above the Kumo, Index held back by the Monthly Resistance.
Looking Forward into this Week:
Bulls now need to stay above the Kumo and take out the Monthly resistance.
Bears want to get - the index below the Weekly resistance and the Chikou Span into the Kumo.
Bulls look to make Higher Highs and higher lows, staying above the Kumo.
Wrap:
Bears want life below the Tenkan Sen (Weekly resistance) & Chikou Span back in the Kumo.
Bulls look to clear the Monthly Resistance.
