TO READ THIS WEEK's POST CLICK HERE...

Saturday, October 10, 2015

Brent Crude Oil - Ichimoku Study - Breakout - Week 2 of October 2015.






Introduction / Primer to Ichimoku can be read at this link (click). 



Learning from the Earlier Study: 
(click here for the previous post)

Bulls break-out BIG above the Tenkan Sen #W2.

Chikou Span spikes towards the Price line #W1.
Gap between the Senkou Span A & B,  wide and steady #W3.
Gap between Tenkan Sen and Kijun Sen, steadies #W2.


Wrap: 

Bulls, knock out the Tenkan Sen with a sharp breakout after holding out above the Sept'15 low, for a few weeks #W2. 

Bears manage to defend the Kijun Sen, with a close well under it #W2.


Looking Forward into this Week:



Chikou Span reaching the Price line, imminent at current rate, this is good for Bulls #W1.
Gap between the Senkou Span A & B is wide at #W3 & above the last Price point, making a thick Kumo - and a strong resistance to an up-move, when we get there #W3.
Index staying above the 'Tenkan Sen', and cracking the Kijun Sen is what the Bulls aim for #W2.


Wrap:

Staying above theTenkan Sen #W2, and taking out the Kijun Sen is the next Bull ask.
Bears look to defend the Kijun Sen and keep the Index well below the March'15 High #W1.