Monday, December 19, 2016

SGX Nifty - Ichimoku Weekly Study - Hide and Seek - Week 3 of December 2016.

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)

Index closes below the Monthly Resistance Line.
Chikou Span reverses and makes a bearish cross with the Price line (see extreme left) .
Chikou Span back in the congestion zone for now.

Index slips below the Monthly Resistance line even as the Chikou Span plays 'Hide and Seek' with the Price line (see extreme left)

Looking Forward into this Week:

Bears want to keep the index below the Kijun Sen - Weekly resistance - and aim for the Kumo.
Chikou Span - in the congestion zone - should stay above the price line (extreme left) for Bulls  to continue up.
Tenkan Sen Cross is the next Bull ask.

Bears want more red on the screen and life below the Monthy Support.
Bulls look to clear the Monthly resistance again and restart the Up-move.