Introduction / Primer to Ichimoku can be read at this link (click).
Index spans the Range marked between the Tenkan Sen (Blue) and Kijun Sen (red) perfectly.
Senkou Span A & B converge (right extreme of cloud).
Wrap:
Index spans the range and closes the week at the top end.
Looking Forward into this Week:
Bulls seek a Break above the Blue Tenkan Sen.
Senkou Span A&B converging (extreme Right) - favours Bears.
A deflection of the Tenkan Sen and Kijun Sen (centre) - is the Bull ask.
Wrap:
Bears seek to keep the index below the Tenkan Sen and head for the Kijun Sen.
Bulls after closing last week neat the blue line, look to trend up, clearing the resistance (blue line) and the old High as marked.
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 attempt to take the index to the next Level (162%) as marked.
Index High Wave (indecision) at the 141% Fibonacci of the last major Hi Lo.
Bulls keep it above the Weekly Support (Tenkan Sen - Blue) and make a new All Time High (ATH).
Wrap:
Bulls keep 10K. Bears force a High Wave candle last week.
Looking Forward into this Week:
Chikou Span (extreme left), preferably, needs to stay pointed away from the Price line, to keep the Bull move going.
Bears now want to follow up the 'High Wave; candle with a move of the index below Fibo 141%.
Wrap:
Bulls riding above the 'Tenkan Sen', for the last 25+ weeks, want to reach the 162% Fibo. retrace of the last major Hi Lo (10500+).
Bears need life below the Tenkan Sen (blue line) to stay in the game.
