Saturday, December 30, 2017

Brent Oil - Ichimoku Weekly Study - Bingo $67 - Week 1 of January 2018.






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 hits the target $67.
Senkou Span A and B, rise (right extreme). Chikou Span way above the Price line (left).
Tenkan Sen and Kijun Sen, up (center).


Wrap:   
Index reaches $67 with two (weekly) big green candles.




Looking Forward into this Week:

All Signals favor Bulls, a third big green candle makes a 
Three White Soldiers pattern.
Bears, seeing the index at significant target hope for resistance.
Heading to the 200% Fibonacci ($72) with the current momentum would be the Bull way.


Wrap:
 
Bears hope for life below the Tenkan Sen (Blue line) using the resistance at Fibonacci 162%.
Bulls want a continuation to $72, with a Three White Soldiers pattern.