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Saturday, August 20, 2016

Brent Crude Oil - Ichimoku Weekly Study - Pop - Week 4 of August 2016.






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


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

Bulls pop the index, out of
the Kumo #W2. 
Chikou Span ticks up, just below the Kumo #W1,
Kumo Break out in progress #W2. 

Wrap: 
From support at the Kijun Sen, index pops out of the Kumo #W2.
 



Looking Forward into this Week:


Bulls next see the index staying above the Kumo and clearing the last high #W2.
Bears plan to defend the last high, with help from the Chikou Span resistance at the Kumo #W2.
Tenkan Sen is the support that the Bulls plan to defend #W2.


Wrap:
Bears aim to get below the Tenkan Sen, after getting back into the Kumo
#W2.
Bulls seek a life clear above the Kumo and higher highs #W2.