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Monday, February 15, 2016

Brent Crude Oil - Ichimoku Study - Tenkan Sen Holds again - Week 3 of February 2016.





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


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

Bears once again defend the Tenkan Sen #W2.

Gap between the Senkou Span A & B, widens some more #W3.
Gap between Tenkan Sen and Kijun Sen, again widens #W2.

Wrap: 

Index still nudging the Tenkan Sen, Bears repeat their precise defense #W2.




Looking Forward into this Week:


Chikou Span starts towards the price line  #W2.

Above the Tenkan Sen, the bulls get some life #W3.
Defending the Tenkan Sen, as they have, in the past three months, keeps the Bears dominant #W2.


Wrap:

Bears look to again defend the Tenkan Sen, and get more red on the screen #W2.
Breaking the 16 week stay below the Tenkan Sen #W2, with a breakout - is the Bull plan.