Saturday, December 23, 2017

Brent Oil - Ichimoku Weekly Study - Doji and Bump - Week 4 of December 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 many Doji weekly candles, makes a long green candle and a close near the target $67.
Senkou Span A and B, rise (right extreme). Chikou Span way above the Price line (left).
Tenkan Sen and Kijun Sen, up (center).

Index closes up - weekly candle is a big green candle.

Looking Forward into this Week:

All Signals favor Bulls.
Bears despite having forced so many Dojis,fail to change the trend.
Heading to the 162% Fibonacci ($67) with the current momentum would be the Bull way.

Bears hope for life below the Tenkan Sen (Blue line).
With a record close in recent times, Bulls seek a close above $67.