Brent Crude Oil - Ichimoku Weekly Study - Tenkan Sen (Blue line) Supports - Week 2 of October 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 faces resistance at previous High - makes a shooting star. Last week's candle is Red.
Senkou Span A and B, flatten but stay crossed bullishly (right extreme). 

Chikou Span meets the Price line (left).

Tenkan Sen and Kijun Sen flatten but remain crossed bullishly (center).

Wrap:   

Index resisted at previous High, Throw Back begins !?

Looking Forward into this Week:

All Signals favor Bulls, Bulls push for the Chikou Span deflection at the Price line.

Keeping above the 61.8% Fibonacci (Of this year's Hi and Lo) and reaching $62 is the Bull plan.
Throw back to the Kumo, in progress - That's the Bear Hope.

Wrap: 

Bears hope for a 'Throwback', with help from the shooting star & resistance at the previous high.

Bulls seek to keep the advantage of Bullish Signals and support at the blue Tenkan Sen, for move towards $62.