Saturday, October 8, 2016

Brent Crude Oil - Ichimoku Weekly Study - Matching Highs - Week 2 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 matches June high after popping above the Kumo 
Chikou Span halts at the Price line, Tenkan Sen at Kumo top  #W1,
Bears defend the June high #W2. 

Index above the Kumo, draws level with the June high #W2. 

Looking Forward into this Week:

Bulls want keep the index above the Kumo and then clear the June high #W2.
Bears want the index below the Tenkan Sen #W2.

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

Bears look to use current resistances to get some red on the screen 
Bulls want to keep it clear of the Kumo and get index above the June high #W2.