Saturday, January 28, 2017

Brent Crude Oil - Ichimoku Weekly Study - Flatter to decieve - Week 5 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 goes Flat as its raining Dojis - the trend is 'Flatter to deceive'.

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

Chikou Span flat
, Index is Flat - Trend is 'Flatter to Deceive'.

Looking Forward into this Week:

Bulls want to stay above the Kumo and make Higher Highs (Center).
Bears want to see the Chikou Span, headed towards the Kumo.  
The Flatter the Index gets, the harder it is, for the Bulls to pull up to the next level.

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