Saturday, June 11, 2016

Brent Crude Oil - Ichimoku Weekly Study - Kumo Life - Week 3 of June 2016.

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

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

Chikou Span's progress is halted by the Kijun Sen #W1.
Index is in the Kumo, fails to break above it #W2.
Senoku Spans A and B converge #W3.

Index bang inside the Kumo #W2.

Looking Forward into this Week:

Bears hope the resistance at the Senoku Span B, would send the Index down #W2.
Keeping the the Chikou Span below the Kijun Sen, important for Bears #W2.
The Senoku Span 'A' crossing above the Senoku Span 'B' is the next Bull ask #W3.

Defending the Kumo is the Bear target #W2.
Keeping the Chikou span above the price line
#W1, and a Kumo Breakout is the Bull hope #W2.