Ichimoku, popularized by Japanese trading houses, is a great way to eyeball a chart and see support, resistance and trend within a split second.
Ichimoku XJO Weekly
Price closed below the Kumo cloud last week signifying a change of trend. May try to retest the cloud at 5560
Ichimoku XJO Monthly
Uptrend still in place but jeez...that's a nasty bearish engulfing forming this month.
Price currently just passing through Kijun-Sen (dark red) which often offers support.
Next support at the Kumo cloud (circa 4900-5000)
Weekend Charting and Chat - 21st August 2015, page-3
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Last
7,971.6 |
Change
-64.900(0.81%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,036.5 | 8,036.5 | 7,923.6 |
| XJO (ASX) Chart |