Monday, December 9, 2013

BSE Sensex - Ichimoku Study - Another ATH shot - Week 2 of December 2013.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 06 Dec'13

Learning from the Past Week: (click here for previous post)

After the retake of the Tenkan Sen, Bulls head to the ATH with another green week #W2.
Senkou Span gap widens making for a thicker Kumo  #W3.

Wrap: Bulls stay above the Tenkan Sen an head for the ATH.

Looking Forward into the next Week:

Chikou Span keeping above the Price Line critical for Bull move up #W1.
Bulls need to stay above the Tenkan Sen to remain in the game #W2.
Thicker Kumo means future support for Bulls if the Index is above the Kumo then #W3.

Wrap: Bulls with the deflection of the Chikou Span off the Price line should make another go at the ATH - Bears look to get below the Tenkan Sen #W2.