Saturday, September 9, 2017

Brent Crude Oil - Ichimoku Weekly Study - Break Out? - Week 2 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 Pops out of the Kumo, after making 3 'Hangman' Candlesticks, just below the Kumo Top (centre).
Senkou Span A and B, converge (right extreme). 
Chikou Span touches the Price line (left).
Tenkan Sen and Kijun Sen Touch (center)

Index pops out of the Kumo after it makes 3 'Hangman' candles, Break out?.

Looking Forward into this Week:

Chikou Span is making a Bullish Cross with the Price line (left) unless a sharp down move occurs.
Keeping above the 61.8% Fibonacci (Of this year's Hi and Lo) and reaching $62 is the Bull plan.
Bears hope that the Senkou Span A&B deflect.
Bulls seek a Cross of the Blue Tenkan Sen to above the Red Kijun Sen (Center)

Eager Bulls, looking to hold the large wave 'Higher Low' manage to POP out of the Kumo.
Bears hope for a 'Throwback' to the Kumo Top, and then a fall below the critical support, $53 of the last few weeks.