Monday, May 22, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - Un-decided @ 113% - Week 4 of May 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)

Bulls continue to make new All time Highs (ATH) now hesitating at Fibonacci 113% of the last major Range. 

Chikou Span (white) points up (see extreme left). 
The Tenkan Sen (blue) was Support, which Index launched itself from, to this new high.

Wrap:
Bulls make another 'All Time High', hesitating at the Fibo 113%. 




Looking Forward into this Week:


Bears hope that the resistance at the Fibonacci 113% as above, can result in some downside.
Chikou Span, preferably, needs to stay pointed away from the Price line, to keep the Bull move, going.


Wrap: 
Bulls riding the Bullish 'Tenkan Sen- Kijun Sen Cross', want to clear 9545 and aim for 9600+.

Bears, hope to get the index below the Kijun Sen (red line) and aim for sub 7070 levels.