Saturday, September 17, 2016

Brent Crude Oil - Ichimoku Weekly Study - Kijun Sen Support - Week 4 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)

Index again attempts to get out of the Kumo (unsuccessfully)
Chikou Span ranges, points to Price line - under the Kumo resistance #W1,
Bears manage to close below the Tenkan Sen and get an edge #W2. 

Kumo gravity holds back the Bulls, falls to support at Kijun Sen  #W2.

Looking Forward into this Week:

Bulls want the index above the Kumo and then above the last high #W2.
Bears push to go lower, down Kumo #W2.

Chikou Span nears the Price line - bearish cross or bullish deflection on #W1.

Bears aim to get below the last low, going down the Kumo
Bulls want to hold above the Kijun Sen and clear the Kumo #W2.