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 closes the week above the March 2015 High - making it an official 'Higher Close'.
Chikou Span (white) flat, but way above the price line (see extreme left).
The Tenkan Sen (blue) is now Support.
Wrap:
Bulls finally use the Bullish Tenkan Sen-Kijun Sen Cross, to close above the previous 'All Time High'.
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 life below the March 2015 High, and a crash to sub 7070 levels.
Wrap:
Bears would want to head to the Tenkan Sen and get some red on the Index.
Bulls with a Higher close plus Bullish 'Tenkan Sen- Kijun Sen Cross', now would want to take out the next resistance as marked.
