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Sunday, August 23, 2015

Brent Crude Oil - Ichimoku Study - Lower Low - Week 4 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)

Dominant Bears postpone possibility of a double bottom, and make a lower low.

Chikou Span needs to catch up some distance, to reach the Price line.
Gap between the Senkou Span A & B,  wide and steady #W3.
Gap between Tenkan Sen and Kijun Sen, narrow - they remain crossed bearishly #W2.


Wrap: 

Bulls, with all Signals against them, give up the last low #W1, #W2. 

Bears after all signals turn red, in their favour, manage a lower low #W2.


Looking Forward into this Week:



Chikou Span reaching the Price line, would take a few weeks at current rate, this is good for Bears #W1.
Index reaching the 'Tenkan Sen', is the next Bull hope
 #W2.
Gap between the Senkou Span A & B is wide, making a thick Kumo - and a strong future resistance for Bulls #W3.
Tenkan Sen & Kijun Sen, are in a Bearish cross,
 the gap between them is narrow - Bulls hope for a re-cross next #W2.


Wrap:

Getting back above the previous low, and reaching the Tenkan Sen #W2, is the next Bull task.
Dominant Bears seek make a significantly lower low, and widen the gap between the 'Tenkan Sen and the Kijun Sen'.