.....Regulars can skip below and go straight to the chart......
Quick Reference :
Chikou Span - pink line,
Kijun Sen - blue line,
Senkou Span A - black line,
Senkou Span B - grey line,
Kumo - grey shaded area,
Tenkan Sen - red line.
Useful resources (free) from the Web:
Previous Signals seen on BSE 30 - Week Chart (EOW) as shown on chart below:
The Kijun Sen Cross: Strong Bearish Signal (K)
The Tenkan Sen/Kijun Sen Cross: Strong Bearish Signal (T)
Chikou Span Cross: Weak Bullish Signal (C)
The Tenkan Sen Cross: Weak Bullish Signal (Te)The Kijun Sen Cross: Weak Bullish Signal (K)
The Kumo Break-out: Bullish Signal (B)
BSE 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:
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| The BSE Sensex 30 - End of Week Chart - 06 July, 2012 |
Learning from the Past Week: (Click)
The Index peeked out of the Kumo last week (B).
Senkou Span B as a resistance did not hold.
From here we have a long stretch of Flat Kumo - i.e Senkou Span B is flat.
For more on what the Flat Kumo means, do revisit this post (click)
Looking forward into the next Week:
Bulls are expected to pull higher, after the Kumo Breakout.
However the flat Kumo would pull back the Bulls, even after the Kumo Breakout.
Confirmation on Daily chart is advised.
