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Saturday, February 18, 2017

Brent Crude Oil - Ichimoku Weekly Study - Support Holds - Week 4 of February 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 remains Flat in a range - last week's candle landed exactly on Support.

Tenkan Sen (blue) flattens and continues to support the index.
Chikou Span (white), flat too (see extreme left).

Wrap:   
Chikou Span flat
, Index is Flat. Last week's honors go to the Bears. 



Looking Forward into this Week:

Bulls want to stay above the Tenkan Sen and make the Higher High (Center).
Bears want to see the Chikou Span, head to the Kumo.  
The index stays flat / range-bound - range break imminent.


Wrap: 
Bulls want  more green, with life near old Highs and a continuation of up trend. 
Bears want to see the Index get below the marked supports.




Say..