Learning from the Earlier Study: (click here for the previous post)
After the Bearish Tenkan Sen - Kijun Sen Cross, Bears dive below the Kumo, and close just above it #W2.
Chikou Span, remains below the Price line #W1.
Gap between the Senkou Span A & B, minuscule #W3.
Gap between the Tenkan Sen and Kijun Sen narrows sharply #W3.
Wrap:
Bulls after making it halfway to the Kumo last week, have another sharp fall and do well to close above the Kumo #W2.
Bears again finally take advantage of the Bearish Cross of the Tenkan Sen & Kijun Sen #W2, with a massive fall, but fail to conquer the Kumo on closing basis.
Looking Forward into this Week:
Chikou Span is crossed below the Price line (Its called a 'Weak Bearish cross because it occurred when the index was Bullish i,e above the Kumo) #W1.
Index coming back to close above the Kumo, gives the Bulls some vigour #W2.
Gap between the Senkou Span A & B around the last Price point is narrow and is getting narrow at W3. This means a thin Kumo - and a weak support for the Bulls for now #W3.
The narrow gap between the Tenkan Sen and the Kijun Sen, good for Bulls, as a re-cross is easier #W2.
Wrap:
Despite the Price bounce off the Kumo, Bears can use the advantage of the recent red on the screen #W1, #W2, to attempt a retake of the Kumo.
Bulls see the Kumo as the major support from where they can aim for the Tenkan Sen #W2.
