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Saturday, April 30, 2016

Brent Crude Oil - Ichimoku Weekly Study - Chikou Span Touch - Week 1 of May 2016.






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




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


Bulls take the Chikou Span to the index  #W1.
Tenkan Sen crosses above the Kijun Sen, this is a Weak Bullish Signal, as it occured when the index was below the Kumo #W2.
Senoku Spans A and B converge #W1 

Wrap:
Index keeps to its green run, after Bullish Tenkan Sen - Kijun Sen, cross #W2.



Looking Forward into this Week:
 


Chikou Span returning from the price line, great for Bears  #W1.
Keeping the index above the Kijun Sen, important for Bulls #W2.
After the Bullish Cross of the 'Tenkan Sen and Kijun Sen', Bears hope for a Throwback #W2. 

Wrap:
Index heading to the Kumo #W2, and a Bullish Cross of the Chikou Span and Price line #W1, would form the Bull wish list.
Bears see a throw back of the index, to the Kijun Sen with the Chikou Span turning back at the Price line #W2,