Monday, June 5, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - Marubozu - Week 1 of June 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 stay well above the 'Tenkan Sen' and the Fibonacci 113% of the last major Range. 

Senkou Span A & B  start to converge (see KUMO/cloud extreme right). 
The candle produced last week was a Marubozu.

Wrap:
Bulls make another 'All Time High', and a 'Bullish Marubozu' (google it). 




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.

Marubozu is good for the Bulls.

Wrap: 
Bulls riding the Bullish 'Tenkan Sen- Kijun Sen Cross', want to stay above the Fibo 113% and aim for 10500+.

Bears, hope to get the index below the Tenkan Sen (blue line) and aim for sub 5050 levels.