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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 touches the target zone 10500, with the 'Three Inside up'.
Bears fail to retain the minor wave Lower High, lower low.
Index keeps above the Blue Tenkan Sen Support line but make a double top.
Wrap:
Index makes it to 10500 with help from the Three Inside up candle pattern.
Looking Forward into this Week:
Bulls seek to use the current strength to make a dash to another new All Time High.
Bears seek to use the 162% Fibonacci resistance and the Double top, to head below the Kijun Sen (red line).
Bulls want to make another Higher High a new ATH and maintain the major wave 'Higher High - Higher Low'.
Wrap:
Bulls seek to use current signals, to keep above the Tenkan Sen and target the 200% Fibonacci (11200+) as marked.
Bears hope to use current resistances to target life below the red line.
