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Sunday, August 9, 2015

Brent Crude Oil - Ichimoku Study - The Lows - Week 2 of August 2015.






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


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

Chikou Span's bearish cross below the Index - produces a long red candle #W1.
Bulls fight to close above the Jan'15 low, after all signals go red - manage to hold the lows.

Gap between the Senkou Span A & B  wide and steady #W3.
Tenkan Sen and the Kijun Sen, stay crossed bearishly #W2.


Wrap: 

Bulls find all Signals against them, manage to hold around the last major low last week. 

Bears yet to enforce a significantly lower low, after all signals turn in their favour #W2.


Looking Forward into this Week:



Chikou Span can slide just below the Index, along the price line keeping the Bearish cross and pressure on any up-move #W1.
Index closing below the 'Kijun Sen', works well
 for the Bears (its called a 'strong bearish signal' as it occurred when the index was Bearish i,e below the Kumo) #W2.
Gap between the Senkou Span A & B is wide, making a thick Kumo - and a strong future resistance for Bulls #W3.
Tenkan Sen and the Kijun Sen make a Bearish cross - Bulls yearn for a Bullish re-cross next #W2.



Wrap:

Defending the recent lows of the Index, with a green week, is what the Bulls would focus on, this week.
Dominant Bears seek significantly lower lows.