Saturday, July 9, 2016

Brent Crude Oil - Ichimoku Weekly Study - Kumo Life Again - Week 2 of July 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 falls with the index and takes support at the Kijun Sen #W1.
Index goes red, however stays in the Kumo #W2.
Senoku Spans A and B crossed Bullishly #W3.

Bulls get a Senoku Span Cross #W3, and support to halt the fall inside the 'Kumo' #W2.

Looking Forward into this Week:

Bulls now look forward to the Price breaking out above the Kumo #W2.
Keeping the the Chikou Span above the Kijun Sen, and the Senoku Span 'A' above the Senoku Span 'B' is the bull task from here #W3.
Bears hope to use the Kumo as resistance zone and get a move below it #W2.

Preventing a Kumo Breakout, is the Bear target #W2.
Taking advantage of the narrow Kumo, and all the green signals seen, to make a Kumo Breakout is the Bull plan #W2.