Saturday, May 28, 2016

Brent Crude Oil - Ichimoku Weekly Study - Kumo touch - Week 1 of June 2016.

Introduction / Primer to Ichimoku can be read at this link (click).

Learning from the Earlier Study: (click here for the previous post)

Chikou Span stays above the Price line, and gets above the Tenkan Sen #W1.
Index reaches the Kumo #W2.
Senoku Spans A and B converge #W3.

Index completes its green strike to the Kumo #W2.

Looking Forward into this Week:

After the bullish Chikou Span Cross, Bears hope for resistance at the Kumo #W1.
Holding the the Chikou Span below the Kijun Sen, important for Bears #W2.
The Senoku Span 'A' crossing above the 'B' is the next Bull ask #W3.

Defending the Kumo is the Bear target #W2.
Keeping the Chikou span above the price line and entering the Kumo is the Bull ask #W2.