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Tuesday, January 3, 2017

Brent Crude Oil - Ichimoku Weekly Study - Consolidated - Week 1 of January 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 moves up smartly post consolidation with a solid green candle.  
Old High as marked is the next Resistance Zone  
Chikou Span (white indicator), stays above the Kumo (see extreme left).


Wrap:   
Chikou Span above the Kumo, Index eyes old Highs.




Looking Forward into this Week:

Bulls want to stay above the Kumo and make new Highs (Center).
Bears want to see - the Chikou Span pointing towards the Kumo.  
Higher Highs and Higher Lows is the way forward for Bulls - keeping  above the Kumo.


Wrap:
Bears want to see the Chikou Span turn down towards the  Kumo. 
Bulls after the consolidation, eye life near old Highs.