Saturday, February 25, 2017

Brent Crude Oil - Ichimoku Weekly Study - Tenkan Sen Dance - Week 1 of March 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 remains Flat in a range - last few weekly candles land around Support.
Index between the 61.8% and 78.6% Fibo retrace of the last major High & Low.
Chikou Span (white), flat (see extreme left).


Chikou Span flat, Index is Flat. Last week's candle is a deuce. 

Looking Forward into this Week:

Bulls want to stay above the Tenkan Sen and make the Higher High (Center).
Bears want to see the Chikou Span, head to the Kumo.
The index stays in the range defined - range break imminent.


Bulls want a breakout and continuation of up trend. 
Bears want to see the Index get below the marked supports.