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Monday, October 3, 2016

Brent Crude Oil - Ichimoku Weekly Study - Above Kumo - Week 1 of October 2016.





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



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

Index pops out of the Kumo 
#W2. 
Chikou Span heads towards Price line #W1,
Bears defend the previous high #W2. 

Wrap: 
Index above the Kumo, previous high is the next target #W2. 
  



Looking Forward into this Week:


Bulls want keep the index above the Kumo and then clear the last high #W2.
Bears want life above the Kumo #W2.

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


Wrap:
Bears look to keep ranging in and out of the Kumo 
#W2.
Bulls want to keep it clear of the Kumo and get index above the previous high #W2.