Monday, May 29, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - Tenkan Sen takes it above 113% - Week 5 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 bounce off the 'Tenkan Sen' to clear the Fibonacci 113% of the last major Range. 

Senkou Span A & B  start to converge (see extreme right). 
The Tenkan Sen (blue) was again Support, from which, the Index launched itself, to this new high.

Bulls make another 'All Time High', clearing the Fibo 113%. 

Looking Forward into this Week:

Bears hope that the Senkou Span A & B convergence, can result in some downside. 
Chikou Span, preferably, needs to stay pointed away from the Price line, to keep the Bull move, going.

Bulls riding the Bullish 'Tenkan Sen- Kijun Sen Cross', want to stay above the Fibo 113% and aim for 9600+.

Bears, hope to get the index below the Tenkan Sen (blue line) and aim for sub 7070 levels.