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)
Bears manage to get the Index below the Monthly Support Line.
Chikou Span still has a bearish cross with the Price line (see extreme left) .
Chikou Span in the congestion zone for now.
Wrap;
Index yoyos between the Monthly Support and Resistance lines.
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 - could hug the Price-line, tracing its steep up move.
Tenkan Sen Cross is the next Bull ask.
Wrap:
Bears want more red on the screen and life in the Kumo.
Bulls look to take off from the Monthly Support line and restart the Up-move.
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Index once again closes below Monthly Resistance with a Doji indicating indecision.
Monthly Resistance Line (Kijun Sen on Month Chart) was again the zone of resistance.
Chikou Span, stays 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 want to stay above the Kumo and take out the Monthly resistance (Center).
Bears want to see - the index below the Weekly resistance and the Chikou Span into the Kumo.
Higher Highs and Higher Lows is the way forward for Bulls - keeping above the Kumo.
Wrap:
Bears want the index below the Tenkan Sen (Weekly resistance) and Chikou Span inside the Kumo.
Bulls after the consolidation, eye life above the Monthly Resistance.
