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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)
#W2. 
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. 

Wrap: 
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.


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