Saturday, January 14, 2017

Brent Crude Oil - Ichimoku Weekly Study - Doji Fall - Week 3 of January 2017.

Zoom into chart .. Click

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

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

Index gets a red week after the previous week's Doji candle showed us indecision.

High as marked, is the next major Resistance Zone 
Chikou Span (white indicator), goes down (see extreme left).


Chikou Span turns down, Index goes red after a Doji.

Looking Forward into this Week:

Bulls want to stay above the Kumo and make new Highs (Center).

Bears want to see the Chikou Span, headed towards the Kumo.  
Higher Highs and Higher Lows is the way forward for Bulls - keeping  above the resistances marked, should do it.

Bulls want  green again, with life near old Highs and a continuation of trend. 
Bears want to see the Chikou Span head down towards the  Kumo and the Index below the resistances.