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Monday, January 25, 2016

Brent Crude Oil - Ichimoku Study - Pause and Bounce - Week 4 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 enforce a pause in the fall with a strong green candle #W2.

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

Wrap: 

Index still below the Tenkan Sen, Bulls make a strong pause and bounce.




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.
Some more green, to let the Tenkan Sen catch up, is the next event the Bulls long for #W2.


Wrap:

Bears look to keep the index below the Tenkan Sen, and make some lower lows #W2.
Folow up to this bounce with a bullish cross of the Tenkan Sen #W2, is the next Bull hope.