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Monday, January 4, 2016

Brent Crude Oil - Ichimoku Study - Hold - Week 1 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 hold at the new low after a green week #W2.

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

Wrap: 

After the Index makes a lower low, Bulls hold the low.



Looking Forward into this Week:


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

Senkou Span A & B  crossing or deflcting helps the Bull or Bear Causes respectively #W3.
Tenkan Sen and Kijun Sen, headed for a cross or deflection with these lines getting closer #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.