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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 keeps above support i.e. Tenkan Sen (Blue line - Center) after being returned from the 141% Fibonacci.
Bulls retain honors for a Higher High.
Last two weekly candles form an Engulfing Pattern.
Wrap:
Index stays above the Tenkan Sen but makes an Engulfing Pattern last week.
Looking Forward into this Week:
Bulls want to keep up the momentum and reach the 162% Fibo., after the higher high.
Bears look to move the index below Fibonacci 127% and make a Lower Low.
Wrap:
Bulls intend the keep above the Tenkan Sen and reach the 162% Fibonacci (10521).
Bears seek life below the Tenkan Sen (9932) with help from the Engulfing Pattern.
