Saturday, June 4, 2016

Brent Crude Oil - Ichimoku Weekly Study - Kumo resists - Week 2 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 above the Tenkan Sen #W1.
Index resisted at the Kumo, red week #W2.
Senoku Spans A and B flatten #W3.

Index pauses below the Kumo #W2.

Looking Forward into this Week:

Bears hope the resistance at the Kumo, would produce a few red weeks #W2.
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.