Monday, January 2, 2017

SGX Nifty - Ichimoku Weekly Study - Kumo Deflection? - Week 1 of January 2017.






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 deflect the index from the Kumo and Weekly Support Line.
Chikou Span (white line) still has a bearish cross with the Price line (see extreme left) .
Chikou Span in a congestion zone for now.


Wrap;
Index deflects near  the Kumo - Bulls get green.  




Looking Forward into this Week:


Bears want to keep the index below the Kijun Sen (red line) - Weekly resistance - and aim for life inside the Kumo.
Chikou Span - in the congestion zone - could hug the Price-line, tracing its steep up move.
Tenkan Sen (blue line) 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 Weekly Support line and continue the Up-move.