Tuesday, May 2, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - Tenkan Sen to ATH - Week 1 of May 2017.

Zoom into chart .. Click 

Introduction / Primer to Ichimoku can be read at this link (

Learning from the Earlier Study: (click here for the previous post)

Bulls shoot up from support at the Tenkan Sen (Blue line).

Chikou Span (white) points up (see extreme left). 
The Tenkan Sen (blue) was Support and Index makes a new high.

Bulls bounce from support at the Tenkan Sen, make an 'All Time High'. 

Looking Forward into this Week:

Bull hope that the support at the Tenkan Sen, would save them the Blushes, pays off.
Chikou Span, preferably, needs to stay pointed away from the Price line, to keep the Bull move, going.
Bear wish list, sees life below the March 2015 High, and a crash to sub 7070 levels.

Bulls riding the Bullish 'Tenkan Sen- Kijun Sen Cross', want to stay above support at the Tenkan Sen (blue line).

Bears plan, to get the index below the Tenkan Sen and dive to the Kijun Sen (red line).