Saturday, October 31, 2015

Brent Crude Oil - Ichimoku Study - Throwback Hold - Week 1 of November 2015.

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

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

Index bounces off support after the Throwback with a green week - a rising Tenkan Sen Holds the Bulls at bay #W2.

Chikou Span points towards the Price line again #W1.
Gap between the Senkou Span A & B, narrows a bit #W3.
Gap between Tenkan Sen and Kijun Sen, also reduces #W2.


Index lifts off support with a green week after the Throwback #W2. 

Bears get the index to close exactly below a rising Tenkan Sen #W2.

Looking Forward into this Week:

Tenkan Sen going up and crossing, to above the Kijun Sen is something the Bulls look forward to #W2.
Chikou Span reaching the Price line 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.


Resuming the up-move #W2, and taking out the Tenkan Sen is the next Bull ask.
Bears look to keep the index below the Tenkan Sen, failing which, keep it well below the Kijun Sen #W1.