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Monday, January 18, 2016

Brent Crude Oil - Ichimoku Study - Pause? - Week 3 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 again with another long red candle, 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: 

Index dives again below the Tenkan Sen and makes aother 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.
A pause to let the Tenkan Sen catch up is the next event favoring the Bulls #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 #W2, is the next Bull hope.