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 retreats at the target zone 10500.
Bulls retain Higher High and Higher Low.
Current Support, the Tenkan Sen moves up - index above support.
Wrap:
Index retreats near target zone, the Fibonacci 162% (of last major Hi Lo) marked above.
Looking Forward into this Week:
Bulls want to restart the momentum and reach the 162% Fibonacci, after the higher high and higher low.
Bears seek 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.
Wrap:
Bulls intend to keep above the Tenkan Sen and reach the 162% Fibonacci (10500+) as marked
Bears hope the deliberation in the Target Zone, turns into a full fledged fall..
