Saturday, June 25, 2016

Brent Crude Oil - Ichimoku Weekly Study - Kumo Life 3 - Week 5 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)

Index sees more red as the Chikou Span's progress is halted by the Kijun Sen #W1.
Index stays in the Kumo, by taking support at the Tenkan Sen #W2.
Senoku Spans A and B converge some more #W3.

Index despite two back to back red weeks, stays inside the Bull and Bear neutral, 'Kumo' #W2.

Looking Forward into this Week:

Bears hope the resistances at the Senoku Span B, and Chikou Span would send the Index sliding down the Kumo #W2.
Getting the the Chikou Span above the Kijun Sen, and breaking out of the current narrow Kumo would be best for bulls #W2.
The Senoku Span 'A' crossing above the Senoku Span 'B' is the next Bull ask #W3.

Preventing a Kumo Breakout, is the Bear target #W2.
taking advantage of the narrow Kumo, to make a Kumo Breakout is the Bull want #W2.