Monday, August 14, 2017

Brent Crude Oil - Ichimoku Weekly Study - Star - Week 3 of August 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)

Last Three candles show a Doji Star.
Index blocked by the Kumo Top and the 61.8% Fibonacci as marked above (centre).
Senkou Span A and B, stay crossed Bearishly (right extreme). 
Chikou Span between the Blue and Red lines and below the Price line (left).

Index makes a Doji Star, right at the Kumo Top.

Looking Forward into this Week:

Chikou Span getting above the Price line is now the Bull hope (left).
Clearing the 61.8% and heading to the 127% (centre) is the next Bull Need.
Senkou Span A&B, Bearish 'cross', with a Doji Star at 61.8% and a High wave candle (indecision) helps Bears.

Hopeful Bulls, look to hold the large wave 'Higher Low' and  make a Smaller wave 'Higher High'.
Bears seek a fall to the Kumo bottom, after the Bearish Senkou Span A & B cross (right) with the Doji Star at 61.8% ($53) last week.