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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 opens above the resistance at the Tenkan Sen (Blue line), but closes the week below it.
Chikou Span, deflects off the Price Line (left).
Bulls maintain the Higher High. Index almost breaks range.
Looking Forward into this Week:
Cross (left) of the Chikou Span, to clear above the Price Line, will give the advantage to the Bulls.
Tenkan Sen (Blue) and Kijun Sen (red line) is current range, to break out / break below from.
Bears after holding the range, seek to get the index below the Kijun Sen (red line).
Bulls after making a Higher High, seek the next Fibonacci level after clearing the Tenkan Sen.