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)
Index at the target zone 10500+.
Bulls retain honors for a Higher High and Higher Low.
Ichimoku Signals all move up in concert.
Index takes off above the Tenkan Sen and is near target the Fibonacci 162% (of last major Hi Lo) marked above.
Looking Forward into this Week:
Bulls want to keep up the momentum and reach the 162% Fibonacci, after the higher high and higher low.
Bears need to make a Lower Low and head towards the Tenkan Sen (blue line).
The Bears expect the index to get shy near the target and hope for a red week.
Bulls intend to keep above the Tenkan Sen and reach the 162% Fibonacci (10500+) as marked
Bears pray for a pause or deliberation in the Target Zone.