Monday, November 21, 2016

CAC 40 - Ichimoku Weekly Study - Kumo Top Stop - Week 4 of November 2016.

View chart.. (Click)  

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


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

Index leaps above the Tenkan Sen, after the Higher Low studied last week.

Weekly and Monthly resistances in close proximity, ensure that the index stops exactly at the Kumo Top (center). 
Chikou Span (extreme left), keeps above the Price line.

Index stays in the Kumo after being turned down by Weekly and Monthly Resistances. 

Looking Forward into this Week:

Bears want to get the index below the Kumo after defending the Weekly resistance line.

Bulls maintain the Higher Low and now search for a higher high.
Senoku Span A & B (extreme right), meeting in the offing - Bearish Cross or Bullish Deflection next.

Bears look to get below the Kumo
, using the Kumo top resistance.
seek life above the Kumo, using the support at the Tenkan Sen.