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.
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)
Bears manage to get the Index below the Monthly Support Line.
Chikou Span still has a bearish cross with the Price line (see extreme left) .
Chikou Span in the congestion zone for now.
Wrap;
Index yoyos between the Monthly Support and Resistance lines.
Looking Forward into this Week:
Bears want to keep the index below the Kijun Sen - Weekly resistance - and aim for the Kumo.
Chikou Span - in the congestion zone - could hug the Price-line, tracing its steep up move.
Tenkan Sen 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 Monthly Support line and restart the Up-move.
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Index once again closes below Monthly Resistance with a Doji indicating indecision.
Monthly Resistance Line (Kijun Sen on Month Chart) was again the zone of resistance.
Chikou Span, stays above the Kumo (see extreme left).
Wrap:
Chikou Span above the Kumo, Index held back by the Monthly Resistance.
Looking Forward into this Week:
Bulls want to stay above the Kumo and take out the Monthly resistance (Center).
Bears want to see - the index below the Weekly resistance and the Chikou Span into the Kumo.
Higher Highs and Higher Lows is the way forward for Bulls - keeping above the Kumo.
Wrap:
Bears want the index below the Tenkan Sen (Weekly resistance) and Chikou Span inside the Kumo.
Bulls after the consolidation, eye life above the Monthly Resistance.
