Saturday, October 28, 2017

Brent Crude Oil - Ichimoku Weekly Study - Higher High - Week 1 of November 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 after a 'Three Outside Up' pattern makes a Higher High.
Senkou Span A and B, turn up and diverge bullishly (right extreme). 
Chikou Span deflects neatly off the Price line (left).
Tenkan Sen and Kijun Sen, turn up and diverge bullishly (center).

Index makes an Three Outside Up pattern above support, Target in sight..

Looking Forward into this Week:

All Signals favor Bulls.
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, is still an expectation of the Bears.

Bears hope for a 'Throwback', from resistance near the target.
Bulls seek to keep the advantage with the Three Outside Up, for move towards $62.