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 goes read at the March 2015 High.
Chikou Span (white) dips in tandem, way above the price line (see extreme left).
Price some distance above the Tenkan Sen (blue).
Wrap:
Bears force two weekly closes below the marked Resistance, despite the Bullish Tenkan Sen-Kijun Sen Cross.
Looking Forward into this Week:
Bulls hold on to a Tenkan Sen and Kijun Sen cross - which is a strong Bullish Signal.
Chikou Span - needs to stay above the Price line to keep the Bull move alive.
Bears dream of defending the March 2015 High, and crashing the index to sub 7070 levels.
Wrap:
Bears would want to continue defending the current resistance and get the Index back below Weekly Supports.
Bulls aim for Higher highs on the back of the Bullish 'Tenkan Sen- Kijun Sen Cross'.
