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Saturday, November 7, 2015

Brent Crude Oil - Ichimoku Study - Hedged- Week 2 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 hedged between the lower support line and the upper Tenkan Sen all of last week #W2.

Chikou Span points down with last week's red on the screen #W1.
Gap between the Senkou Span A & B, narrows a bit #W3.
Gap between Tenkan Sen and Kijun Sen, also reduces #W2.


Wrap: 

Index bounces between the same support and resistance last week - advantage Bears #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 flitting apart from the Price line for an extended time, works for the Bears #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.


Wrap:

Resuming the up-move, and taking out the Tenkan Sen #W2, is the next Bull ask.
Bears look to keep the index below the Tenkan Sen, and seek deeper levels next.