Europe - CAC 40 - Ichimoku Study - Kumo Hold - Week 1 of October 2015.

Introduction / Primer to Ichimoku can be read at this link (click). 

Learning from the Earlier Study: (click here for the previous post)

Index again slips out of the Kumo during the week and closes just inside it for the week  #W2.

Chikou Span finds support exactly at the Kijun Sen - helping the Bulls survive #W1.

Gap between the Senkou Span A & B, steady #W3.

Gap between the Tenkan Sen and Kijun Sen narrow, but steady #W3.

Wrap: 

Bears again crash the index, way below the Kumo, Bulls hold the Chikou Span exactly at the Kijun Sen and make a come back #W2.

Looking Forward into this Week:

Chikou Span is crossed  below the Price line (Its called a 'Weak Bearish cross because it occurred when the index was Bullish i,e above the Kumo) and is finding support at the Kijun Sen #W1.

Index getting above the Kumo with a Bullish Breakout, is the next Bull hope #W2.

The narrow gap between the Tenkan Sen and the Kijun Sen, good for Bulls, as a re-cross is easier #W2.

Wrap:

Bears give up advantage, as with 3 weekly closes inside the Kumo, bulls and bears are now evenly matched.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - High Wave Long - Week 1 of October 2015.

Learning from last Week: (click here for the previous post)

Patterns:

• Index again thwarted at the resistance we studied, the 76.4% Fibo retrace (8040) shown on the EOW #W1. This after a fast up-move from sub 7600.
• High wave candle forms on the Long Term chart  EOM #M1.

Support & Resistance:

• The 76.4% Fibo retrace shown on the EOW  was resistance #W1. The October Pivot was the nearest support #M1.

Moving Averages: 

• The critical 5 EMA, remains Bullishly crossed above the 13 SMA on the day charts  for the third week running #D1.

Indicators:

• On the Day chart the  MACD and its MA are bullishly crossed while below the zero line, and the histograms are ticking up #M2.

Wrap:

Bulls again unsuccessful, at breaking 8040, the '76.4% Fibonacci retrace of the '2011 low' to the ATH' for the 6th week in a row #W1. 
Bears fail to make lower lows #D1.

Looking Forward into this Week:

Patterns:

• Bearish H&S pattern reaching target, remains a possibility if the Neckline (red arrow #W1) is held by the Bears (Study Links here, here or elsewhere). 
• High Wave Candle on the Month Chart is active (Study Links here, here or elsewhere).

Support & Resistance:

• Support continues at 7484, the 76.4% Fibonacci retrace of the '2008 low' to the 'ATH'  and resistance continues at 8040, the 76.4% Fibonacci retrace of the '2011 low' to the 'ATH'  #W1.

Moving Averages: 

• The Death Cross (50 and 200 SMA) is active, these MAs are diverging #D1.

Indicators:

• The STS, crossing below its MA, is good for Bears #W2.

Wrap :

Bulls seek victory on their 7th attempt at crossing 8040, the '76.4% Fibonacci retrace of the '2011 low' to the ATH' not unlike Robert the Bruce (link).
Bears would like to follow the H&S to its target #W1.

China - SSEC - Ichimoku Study - Chikou Support - Week 1 of October 2015.

Introduction / Primer to Ichimoku can be read at this link (click). 

Learning from the Earlier Study: (click here for the previous post)

Chikou Span turns down below the Price line and gets support exactly at the Kijun Sen #W1.

Index stays in the Kumo #W2. 

Senkou Span A & B cross Bearishly #W3.

Wrap: 

Despite the bearish Senkou Span cross, Index still floats in the Kumo #W1.

Bulls use the Chikou Span Support at the Kijun Sen #W1 to avert a slide #W2.

Looking Forward into this Week:

Bearish Senoku Span Cross active #W2.
Kumo gives the Index some support to consolidate #W2.
Chikou Span supported at the Kijun Sen, gives Bulls hope of a comeback #W1.

Wrap:

Bearish Senoku Span cross staying active #W3 is the Bear hope.

Getting back above the Kumo #W2, with support for the Chikou Span at the Kijun Sen #W1, is the Bull strategy for a comeback.

Brent Crude Oil - Ichimoku Study - Doji Hold - Week 1 of October 2015.

Introduction / Primer to Ichimoku can be read at this link (click). 

Learning from the Earlier Study: (click here for the previous post)

Bears hold the Tenkan Sen with a Doji last week #W2.
Chikou Span flat, as the week was evenly fought #W1.
Gap between the Senkou Span A & B,  wide and steady #W3.
Gap between Tenkan Sen and Kijun Sen, steadies #W2.


Wrap: 
Bulls, knock on the Tenkan Sen once again sharing honors for the week #W2. 
Stoic Bears manage defend the Tenkan Sen, with a close just under it #W2.


Looking Forward into this Week:


Chikou Span reaching the Price line, would take a couple of weeks at current rate, this is good for Bears #W1.
Gap between the Senkou Span A & B is wide at #W3 & above the last Price point, making a thick Kumo - and a strong resistance to an up-move, when we get there #W3.
Index closing above the 'Tenkan Sen', is what Bulls are struggling for #W2.


Wrap:
Staying above the previous low, and breaking above the Tenkan Sen #W2, is the Bull ask for the past 5 weeks.
Stoic Bears again defend the Tenkan Sen, with a close just below it #W1.

Say....