Monday, April 10, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - Shooting a Higher High - Week 2 of April 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 keep above support and take the Index Higher - weekly candle resembles a Shooting Star.

Chikou Span (white) flat, but towers above the price line (see extreme left). 
The Tenkan Sen (blue) is fall back Support.

Wrap:
Bulls continue above the previous 'All Time High' - Bears make the Weekly candle a 'Shooting Star'.




Looking Forward into this Week:


Bulls continue to reap rewards from the Tenkan Sen and Kijun Sen cross - which has been a strong Bullish Influence.
Chikou Span - needs to stay above the Price line to keep the Bull move alive.
Bear wish list sees life below the March 2015 High, and a crash to sub 7070 levels.


Wrap: 
Bulls riding the Bullish 'Tenkan Sen- Kijun Sen Cross', seek the stars with another High.

Bears plan to shoot the index towards the Tenkan Sen and get some red on the Index.