Saturday, November 25, 2017

Brent Oil - Ichimoku Weekly Study - Above support and Hang em twice - Week 1 of December 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 earlier week's  'Opening white Marubozu', with a red and then green, Hanging Man, weekly candles.
Senkou Span A and B, flatten (right extreme). 
Chikou Span way above the Price line (left).
Tenkan Sen and Kijun Sen, flat (center).

Index goes into a range 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 want to retain the advantage, keeping above support, for continuation move towards $67.