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Saturday, December 5, 2015

Brent Crude Oil - Ichimoku Study - Testing Lows - Week 2 of December 2015.






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



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

Bulls again hold index to a higher low, after index tests the previous low #W2.

Gap between the Senkou Span A & B, narrows sharply #W3.
Gap between Tenkan Sen and Kijun Sen, widens #W2.

Wrap: 

Bears bring the index to the last bottom for a retest, Index keeps the higher low #W2. 




Looking Forward into this Week:


Bulls hold the last low  #W2.

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.
Senoku Span A & B, headed for a cross or deflection with these lines getting closer #W1.


Wrap:

Returning after a Double Bottom, and taking out the Tenkan Sen #W2, is the next Bull plan.
Bears look to keep the index below the Tenkan Sen, and take out the previous low #W2.