Monday, August 4, 2014

BSE Sensex - Ichimoku Study - Bears Back - Week 1 of August 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 01 Aug'14

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

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

Bears defend recent Highs, and Index dives below the Tenkan Sen #W2.
Senkou Span A & B - gap steadies up #W3.
Tenkan Sen and Kijun Sen gap also steadies #W2

Wrap: Bears send index below Tenkan Sen 

Looking Forward into this Week:

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

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