Saturday, November 4, 2017

Brent Oil - Ichimoku Weekly Study - Bingo $62 !! - Week 2 of November 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 after a 'Three Outside Up' pattern makes the target $62 in style.
Senkou Span A and B, turn up bullishly (right extreme). 
Chikou Span deflects, way above the Price line (left).
Tenkan Sen and Kijun Sen, turn up bullishly (center).

Index continues with the Three Outside Up pattern above support, Target of $62 done !!

Looking Forward into this Week:

All Signals currently favor Bulls.
Defending the 127% Fibonacci (Of this year's Hi and Lo) and turning towards the Kumo is the Bear plan.
Heading to the 162% Fibonacci ($67) with the current momentum would be the Bull way.

Bears hope for a 'Throwback', from resistance at target (127% Fibonacci).
Bulls hope to keep the advantage with the Three Outside Up, for move towards $67.