Monday, February 27, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Tenkan Sen Support - Week 1 of March 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)

Index again makes the Tenkan Sen a support.

Last few weeks ranged between the 61.8% and 78.6% Fibonacci retrace, of the last major High and Low.
Chikou Span (White) flat (extreme left).

Last week the index stays above the Tenkan Sen - still within the larger range marked.


Looking Forward into this Week:

Bears want to see the Chikou Span headed back towards the Kumo (extreme left).
Index seeks a range break - out of the two Fibonacci ratios marked
Bulls have the choice of the Tenkan Sen, Kijun Sen or Kumo for Support


Index in range mode, show intent to take support and trend up.
Bears would try again to get index below the Tenkan Sen (Center).