Saturday, November 18, 2017

Brent Oil - Ichimoku Weekly Study - Above support - Week 4 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 follows last week's  'Opening white Marubozu', with a red weekly candle.
Senkou Span A and B, up bullishly (right extreme). 
Chikou Span turns towards the Price line (left).
Tenkan Sen and Kijun Sen, up bullishly (center).

Index goes red after an 'Opening white Marubozu', above support at $62.x

Looking Forward into this Week:

All Signals currently favor Bulls.
Getting  below support and heading 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', to the Kumo.
Bulls hope to retain the advantage, keeping above support, for continuation move towards $67.