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Monday, February 6, 2017

CAC 40 - Ichimoku Weekly Study - Support Retest - Week 1 of February 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 takes support near the Tenkan Sen with last week showing a massive Doji.
Chikou Span (White) points down (extreme left).

Wrap:
Last week was a Doji and index took Support near the Tenkan Sen.

 



Looking Forward into this Week:


Bears want to get the Chikou Span headed back towards the Kumo (extreme left).
Bulls having achieved a higher high (weekly close) now look to go bottom out near a strong support.
Bulls have the choice of the Tenkan Sen, Kijun Sen or Kumo for Support


Wrap:
 
Bulls in pause mode, still look good to take support and trend up.
Bears seek to get index below the Tenkan Sen (Center - Weekly Support).