Monday, August 28, 2017

Brent Crude Oil - Ichimoku Weekly Study - Hang Men - Week 5 of August 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)

Last on the screen are two Hangman Candlestick just below the Kumo Top (centre).
Senkou Span A and B, stay crossed Bearishly (right extreme). 
Chikou Span between the Blue and Red lines and below the Price line (left).

Index makes 2 Hangman candles, still below the Kumo Top and above the red and blue supports.

Looking Forward into this Week:

Chikou Span getting above the Price line is now the Bull hope (left).
Clearing the 61.8% and heading to the 127% (centre) is the next Bull Need.
Senkou Span A&B, Bearish 'cross' (right) helps Bears.

Eager Bulls, look to hold the large wave 'Higher Low' and  POP out of the Kumo.
Bears again look to HANG out near the Kumo bottom, defending the resistance ($53) of the last few weeks.