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Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Index after the High Wave (indecision) at the 141% Fibonacci of the last major Hi Lo, dives below the Tenkan Sen (Blue line- Center).
Bulls close near support at the 127% Fibonacci and above the Kijun Sen (Red - centre).
Wrap:
Bulls find support around the 127% Fibonacci, Bears break index below the Tenkan Sen, after a 30 week run, above it.
Looking Forward into this Week:
Bulls seek to use the current support to get back above the Tenkan Sen (blue - centre).
Bears look to continue withe the momentum, pushing for a move of the index below Fibo 127%.
Wrap:
Bulls slipping below the 'Tenkan Sen', after a 30 week, run above it, seek to return to trend, by making this a Higher Low.
Bears need to continue weekly below the Tenkan Sen (blue line @9797) to stay in the game.
