Monday, October 17, 2016

Brent Crude Oil - Ichimoku Weekly Study - Resisted on High - Week 3 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 clears  June high after popping above the Kumo 
Chikou Span halts at the Price line, Tenkan Sen clears Kumo top  #W1,
Bears give up the June high #W2. 

Index clears June high, Chikou Span halts at the Kumo #W1. 

Looking Forward into this Week:

Bulls now want Higher Highs and Higher Lows #W2.
Bears want the index below the Tenkan Sen #W2.

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

Bears look to use current resistance to get some red on the screen 
Bulls want to keep clear of the Kumo and get the Chikou Span into the Kumo #W2.