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Monday, March 20, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - Higher High? - Week 4 of March 2017.







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)

Index pops above the March 2015 High, but closes below it, for the week.

Chikou Span (white) spikes (see extreme left). 
Tenkan Sen (blue) and Kijun Sen (red) in a Bullish Cross.

Wrap:
Index makes a Higher High and mulls life above it - with a Strong Bullish Cross to back it.




Looking Forward into this Week:


Bulls hold on to a Tenkan Sen and Kijun Sen cross - which is a strong Bullish Signal.
Chikou Span - needs to stay above the Price line to keep the Bull move alive.
Bears dream of defending the March 2015 High, and crashing the index to sub 7070 levels.



Wrap: 
Desperate Bears would want to defend the current resistance and get Index back below Weekly Supports. 

Dominant Bulls plan for Higher highs on the back of the Bullish 'Tenkan Sen- Kijun Sen Cross'.