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Saturday, October 22, 2016

Brent Crude Oil - Ichimoku Weekly Study - Inside Week - Week 4 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 ranges within previous week's Open and Close making a Doji in the process
#W2. 
Chikou Span stuck at the Kumo bottom - which itself is moving up next week  #W1,
Bears defend the recent highs #W2. 

Wrap: 
Index stays inside previous week's candle, Chikou Span again halts at the Kumo #W1. 
  



Looking Forward into this Week:


Bulls now want Higher Highs and Higher Lows #W2.
Bears want the index below the Tenkan Sen #W2.

Chikou Span can now slide up along the Kumo bottom, where its stuck for some time W1.


Wrap:
Bears look to use current resistance to get some more red on the screen 
#W2.
Bulls look to get the Chikou Span into the Kumo or move up with it #W2.