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)
Bulls after the massive up move of the previous week, stay below Resistance with a Doji.
Monthly resistance Line (Kijun Sen on the Month Chart) was again the area of return.
Chikou Span, pops above the Kumo (see extreme left).
Wrap:
Chikou Span above the Kumo, Index held back by the Monthly Resistance.
Looking Forward into this Week:
Bulls now need to stay above the Kumo and take out the Monthly resistance.
Bears want to get - the index below the Weekly resistance and the Chikou Span into the Kumo.
Bulls look to make Higher Highs and higher lows, staying above the Kumo.
Wrap:
Bears want life below the Tenkan Sen (Weekly resistance) & Chikou Span back in the Kumo.
Bulls look to clear the Monthly Resistance.
