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Monday, August 29, 2016

Brent Crude Oil - Ichimoku Weekly Study - Throwback - Week 1 of September 2016.

 




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


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

Bears get a red week as the index throws back, bouncing exactly at 
the Kumo #W2. 
Chikou Span ticks down, just below the Kumo #W1,
Bulls defend their turf after the Kumo Break out #W2. 

Wrap: 
After the Kumo breakout, the throwback bounces off exactly at the Kumo #W2.
 



Looking Forward into this Week:


Bulls 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 need to defend, to remain relevant #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.