Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Chikou Span continues is drop with the price, sliding along just above the Index #W1.
After slipping below the Kijun Sen last week, Index dives down deeper #W2.
Gap between the Senkou Span A & B wide and increasing #W3.
Gap between the Tenkan Sen and the Kijun Sen narrows further #W2.
Wrap:
Bulls fail to get Index back above the Kijun Sen #W2 but maintain the Chikou Span above the Price line #W1.
Bears force price lower, using the fall to below the Kijun Sen #W2.
Looking Forward into this Week:
Chikou Span is barely above the Index, Bulls wary of a Bearish cross, to below the index, would look for a bounce here #W1.
Index closing below the 'Kijun Sen', is good for the Bears, as its a strong resistance when its below the Kumo #W2.
Gap between the Senkou Span A & B is wide, making a thick Kumo - and a strong future resistance #W3.
Gap between the Tenkan Sen and the Kijun Sen narrows some more - bullish deflection or Bearish cross imminent #W2.
Wrap:
Index getting back above the Kijun Sen #W2, and Chikou Span remaining above the Price line #W1, are both what the Bulls would fight for, this week.
Keeping the action, below the Kijun Sen, Bears seek another Bearish Cross to help force the Price down, this week.
