Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Kumo Breakout continues to reward Bulls, as it heads towards the marked resistance.
All signals are currently Bullish.
Chikou Span (White Indicator) climbs again (extreme left).
Wrap:
Kumo Breakout gives the Bulls more green - previous High in sight.
Looking Forward into this Week:
Bears want to get the Chikou Span headed back towards the Kumo (extreme left).
Longs having achieved a higher high (weekly close) now look to keep the momentum going.
Bulls look to take out the Feb 2015 High next.
Wrap:
Bears seek to point the index towards the Tenkan Sen (Blue Indicator).
Bulls look to take out old Highs.
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 deflect the index from the Kumo and Weekly Support Line.
Chikou Span (white line) still has a bearish cross with the Price line (see extreme left) .
Chikou Span in a congestion zone for now.
Wrap;
Index deflects near the Kumo - Bulls get green.
Looking Forward into this Week:
Bears want to keep the index below the Kijun Sen (red line) - Weekly resistance - and aim for life inside the Kumo.
Chikou Span - in the congestion zone - could hug the Price-line, tracing its steep up move.
Tenkan Sen (blue line) Cross is the next Bull ask.
Wrap:
Bears want more red on the screen and life in the Kumo.
Bulls look to take off from the Weekly Support line and continue the Up-move.
Learning from last Week: (click here for the previous post)
Patterns:
The Index again stops at the Middle Tyne of the Daily Fork for consolidation #Dailychart.
Support & Resistance:
Support was around the daily 13 MA and Resistance was at the middle Tyne of the Day fork #Dailychart.
Moving Averages:
The critical EMA5, is bullishly above the MA13, on all three charts above.
Indicators:
The RSI near the oversold #WeekChart.
Wrap:
Index consolidates another week at the Day fork #Dailychart.
Looking forward into this Week:
Patterns:
Shooting Star (Google 'Shooting Star candlestick') on the Medium Term Screen indicates possible reversal #WeeklyChart.
Support & Resistance:
Middle
Tyne of the Week Fork, is now support and the Top Tyne of the Month Fork is again resistance.
Moving Averages:
13 MA on the Day chart, is the mark, that the Bear want to get below, this week #DailyChart.
Indicators:
STS stays in the over sold #DayChart.
Wrap:
Bears want to use the weekly Shooting Star and the mid fork resistance on the Daily Chart, for a reversal #Dailychart.
Bulls look to touch the Long term Channel top and a make a new ATH (2292) #MonthChart.
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Kumo Breakout continues to reward Bulls, but in moderation.
All signals are currently Bullish.
Chikou Span flattens (extreme left)
Wrap:
Kumo Breakout gives the Bulls more green - pace moderates.
Looking Forward into this Week:
Bears want to get the Chikou Span headed back towards the Kumo (extreme left).
Longs having achieved a higher high (weekly close) now look to keep the momentum going.
Bears look to get back to the resistance levels (Weekly and Monthly).
Wrap:
Bears seek to point the index towards the Tenkan Sen (Weekly resistance).
Bulls look for more green after the massive Kumo Breakout followed by a pause.
