Saturday, November 11, 2017

Brent Oil - Ichimoku Weekly Study - Bull over support - Week 3 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 approaches $67, making an 'Opening white Marubozu' above support $62.
Senkou Span A and B, up bullishly (right extreme). 
Chikou Span deflects, way above the Price line (left).
Tenkan Sen and Kijun Sen, up bullishly (center).

Index makes an 'Opening white Marubozu', above support at $62.

Looking Forward into this Week:

All Signals currently favor Bulls.
Getting  below support 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', to the Kumo.
Bulls hope to retain the advantage, with the  'Opening white Marubozu', for move towards $67.