Saturday, December 2, 2017

Brent Oil - Ichimoku Weekly Study - Confused Doji - 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 makes a Doji and shows its indecision, following earlier week's, red and then green 'Hanging Man' 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 gets stuck near the 141 Fibonacci retrace, weekly candle is a Doji.

Looking Forward into this Week:

While all Signals currently favor Bulls, the ranging gives the Bears an edge in.
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 finish the consolidation, with a continuation move towards $67.