Tuesday, January 3, 2017

Brent Crude Oil - Ichimoku Weekly Study - Consolidated - Week 1 of January 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 moves up smartly post consolidation with a solid green candle.  
Old High as marked is the next Resistance Zone  
Chikou Span (white indicator), stays above the Kumo (see extreme left).

Chikou Span above the Kumo, Index eyes old Highs.

Looking Forward into this Week:

Bulls want to stay above the Kumo and make new Highs (Center).
Bears want to see - the Chikou Span pointing towards the Kumo.  
Higher Highs and Higher Lows is the way forward for Bulls - keeping  above the Kumo.

Bears want to see the Chikou Span turn down towards the  Kumo. 
Bulls after the consolidation, eye life near old Highs.