Introduction / Primer to Ichimoku can be read at this link (click).
Index takes Support at the Kijun Sen (weekly - red), after slipping below the Tenkan Sen (blue).
Chikou Span (White) spikes up, way above the Price line (extreme left).
Wrap:
Index stops falling near the Weekly Support. Bears make a huge red candle.
Looking Forward into this Week:
Bears next seek life below the Kijun Sen (red line).
Bulls want to resume the up trend from this critical support.
Senkou Span A&B starts converging - favours Bears.
Wrap:
Bears want to keep the index below the Tenkan Sen and keep it falling.
Bulls look to trend up, taking off from critical support (red line).
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)
Bulls manage to stay above the 'Tenkan Sen' even as three red weekly candles show the impact of the 'Evening Star' (google 'Evening star candle')
Bears fail to break below the 113% Fibonacci of the last major Hi Lo.
Wrap:
After the recent Evening star, Bears get a third Red Candle, Bulls close above the Tenkan Sen.
Looking Forward into this Week:
Chikou Span, preferably, needs to stay pointed away from the Price line, to keep the Bull move, going.
'Evening Star' effect, has been good for the Bears.
Bulls look to bounce back to the All Time Highs.
Wrap:
Bulls riding above the 'Tenkan Sen', for the last 25 weeks, want to reclaim the All Time High (ATH).
Bears, hope to send the index below the Tenkan Sen (blue line) this week.
