Saturday, September 24, 2016

Brent Crude Oil - Ichimoku Weekly Study - Doji @ Kijun Sen - Week 5 of September 2016.

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

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

Index once again attempts to get out of the Kumo (unsuccessfully)
Chikou Span ranges, between Price line and the Kumo #W1,
Bears make a Doji and close below the Tenkan Sen to keep the edge #W2. 

Kumo gravity holds back the Bulls, keeps to support at Kijun Sen  #W2.

Looking Forward into this Week:

Bulls want the index above the Kumo and then above the last high #W2.
Bears push to go lower, down Kumo #W2.

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

Bears after the Doji, aim to get below the last low, going down the Kumo
Bulls want to keep it above the Kijun Sen, then go up to clear the Kumo #W2.