Zoom into Chart (Click)
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Chikou Span bounces (exactly) off the Senoku Span A (extreme left).
Index also sees a bounce at the Monthly Support Line.
Monthly Support Line now between the Kumo top and the Weekly Close of the Index.
Chikou Span bounces off the Senoku Span A while the Index stays above the Monthly Support.
Looking Forward into this Week:
Bears want to keep the index below the Kijun Sen - now Weekly resistance - and aim for the Kumo.
Kijun Sen - Weekly Resistance - important for Bulls to re-conquer.
Chikou Span and Price-line in spotlight - next target for a Bullish Deflection or Bearish Cross.
Wrap:
Bears look to continue this fall to reach the Kumo (Center) with a Bearish Chikou Span Cross.
Bulls look for more green off the Monthly Support - and a Chikou Span Deflection off the Price line next.
