Saturday, September 23, 2017

Brent Crude Oil - Ichimoku Weekly Study - At Old high - Week 4 of September 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 soars above the Kumo (centre), reaches a previous High.
Senkou Span A and B, stay crossed bullishly (right extreme). 
Chikou Span stays crossed  above the Price line bullishly (left).
Tenkan Sen and Kijun Sen remain crossed bullishly (centre).

Index reaches a previous High, Throw Back yet to happen.

Looking Forward into this Week:

3 Bullish Crosses: Chikou Span & Price line (left), Senkou Span A & B (right), Tenkan Sen & Kijun Sen (centre), all help Bulls.
Keeping above the 61.8% Fibonacci (Of this year's Hi and Lo) and reaching $62 is the Bull plan.
Throw back to the Kumo, yet to happen - That's the Bear Hope.

Bears hope for a 'Throwback' to the Kumo Top, with the resistance of the previous high.
Bulls seek to keep the advantage of three Bullish Crosses, with a quick move towards $62.