Monday, December 4, 2017

Nifty (Asia India) - Ichimoku Weekly Study - A Lower High - Start of Week 1 of December 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) 

Index fails to make the target zone 10500, once again. 

Bears manage a minor wave Lower High, last week's candle misses a lower low by a whisker.
Index closes below the Blue Tenkan Sen Support line.

Index closes below the Blue line (Tenkan Sen), after a minor lower high.

Looking Forward into this Week:

Bulls seek to prevent a lower low and a fall towards the Kumo.

Bears seek to make a Lower Low and head below the Kijun Sen (red line).
A weekly close above the Tenkan Sen would help Bulls get back dominance.

Bulls intend to climb above the Tenkan Sen and reach the 162% Fibonacci (10500+) as marked

Bears hope to make a lower low and target life below the red line.