Tuesday, May 9, 2017

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Bulls Run - Week 2 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 after making a higher low off the Tenkan Sen, Run up to above the Previous High.

Index shoots off to just under the Fibo 113% of the Last major High Low.
Chikou Span (White) stays, way above the Price line (extreme left).

Wrap:
Bulls run up after taking support at the Tenkan Sen(Blue Line). Bears hold the 113% Fibo. 

 



Looking Forward into this Week:


Bears hope to hold the resistance line 113% Fibo, and move the index down.
Bulls want to maintain the current Higher High - Higher Low.

Senkou Span A&B way apart - favors Bulls.

Wrap:

Hopeful Bears want a Double Top and life below the Tenkan Sen (Center).
Bulls look to trend, all the way 162% Fibo.