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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 remains Flat in a range - slips below Support.
Index between the 61.8% and 78.6% Fibo retrace of the last major High & Low.
Chikou Span (white) also goes flat (see extreme left).
Wrap:
Chikou Span flat, Index is Flat. Last week's candle is a tad below the Tenkan Sen.
Looking Forward into this Week:
Bulls want to resume the climb and clear $61(Center) for some safety.
Bears want to see Index retest the bottom and aim to reach $24 from here.
The index stays in the range defined - range break imminent.
Wrap:
Bulls want a breakout and continuation of up trend - $61 sounds good.
Bears want to see the Index get below the marked supports and retest the recent bottom near $24.
