Learning from the Earlier Study: (click here for the previous post)
After the dive below the Kumo, and close just above it previously, Bears stay above the Kumo and reach out to the Tenakan Sen last week #W2.
Chikou Span points down, staying below the Price line #W1.
Gap between the Senkou Span A & B, steadies #W3.
Gap between the Tenkan Sen and Kijun Sen narrow, but steadies #W3.
Wrap:
Bulls keep above the Kumo, and make an unsuccessful attempt, at taking the Tenkan Sen #W2.
Bears unable to keep below the Kumo previously - manage a red candle last week #W2.
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 staying above the Kumo, gives the Bulls a fillip #W2.
Gap between the Senkou Span A & B around the last Price point is rather narrow. This means a thin Kumo - and a weak support for the Bulls #W2.
The narrow gap between the Tenkan Sen and the Kijun Sen, good for Bulls, as a re-cross is easier #W2.
Wrap:
Despite a red candle, Bears fail to close inside the Kumo.
Bulls see the Kumo as the major support from where they can reach the Tenkan Sen #W2.
