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).


Wrap:   
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.


Wrap:
 
Bears hope for a 'Throwback', to the Kumo.
Bulls hope to retain the advantage, with the  'Opening white Marubozu', for move towards $67.