Monday, February 6, 2017

CAC 40 - Ichimoku Weekly Study - Support Retest - Week 1 of February 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 takes support near the Tenkan Sen with last week showing a massive Doji.
Chikou Span (White) points down (extreme left).

Last week was a Doji and index took Support near the Tenkan Sen.


Looking Forward into this Week:

Bears want to get the Chikou Span headed back towards the Kumo (extreme left).
Bulls having achieved a higher high (weekly close) now look to go bottom out near a strong support.
Bulls have the choice of the Tenkan Sen, Kijun Sen or Kumo for Support

Bulls in pause mode, still look good to take support and trend up.
Bears seek to get index below the Tenkan Sen (Center - Weekly Support).