Monday, July 28, 2014

BSE Sensex - Ichimoku Study - Bears Fold - Week 5 of July 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 25 July'14

Introduction / Primer to Ichimoku can be read at this link (click). 

Learning from the Earlier Study: (click here for the post)

Bulls defending the recent lows manage to edge above the blue Tenkan Sen line #W2.
Senkou Span A & B - gap steadies up #W3.
Tenkan Sen and Kijun Sen gap also steadies #W2

Wrap: Bulls retake the Tenkan Sen, Bears defend recent Highs 

Looking Forward into this Week:

The Chikou Span, keeping current altitude, will need a few months to meet the price-line #W1.
Bears want to defend the recent Highs and get the index below the Tenkan Sen again #W2. 

Wrap: Bears look to keep below recent highs and get the index below the 
Tenkan Sen, Bull focus is to stay above the Tenkan Sen and reach the ATH #W2.