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Monday, January 11, 2016

Brent Crude Oil - Ichimoku Study - Fold - Week 2 of January 2016.






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


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

Bulls fold after a month of consolidation bears make a lower low #W2.

Gap between the Senkou Span A & B, increases #W3.
Gap between Tenkan Sen and Kijun Sen, steady #W2.

Wrap: 

After a pause Index makes a lower low.



Looking Forward into this Week:


Chikou Span is a long way from the price line  #W2.

Senkou Span A & B  crossing or deflecting helps the Bull or Bear Causes respectively #W3.
Tenkan Sen and Kijun Sen, making a cross or deflection is the next event on the horizon #W2.


Wrap:

Bears look to keep the index below the Tenkan Sen, and make some lower lows #W2.
An oversold bounce or a bullish cross of the Tenkan Sen and Kijun Sen #W2, is the next Bull hope.