Saturday, November 28, 2015

Brent Crude Oil - Ichimoku Study - High Wave - Week 1 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 hold index to a higher low, with a green week and a high wave candle #W2.

Chikou Span points towards the Price line #W1.
Gap between the Senkou Span A & B, narrows sharply #W3.
Gap between Tenkan Sen and Kijun Sen, steady #W2.


Bears moving the index towards the last bottom for a retest, Index keeps the higher low with a green week #W2. 

Looking Forward into this Week:

Bulls aim for the Tenkan Sen and look for life above it  #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.


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.