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Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Brent after taking off from the Kijun Sen (red) earlier cleared the Resistance at the Tenkan Sen (blue) last week, and is now in the old range / cluster.
Index between the 61.8% and 78.6% Fibonacci retrace of the last major High & Low.
Chikou Span (white) stays deflected above the price line (see extreme left).
Wrap:
Chikou Span spikes off the Price line, Trending Index clears the Tenkan Sen.
Looking Forward into this Week:
Bulls would want to keep Index above the Tenkan Sen(blue) and prevent the Chikou Span from going below the Price line.
Bears want to see Index stop at the old resistance cluster and head back to the Kumo (cloud).
With a Higher Low @ Kijun Sen, Bulls look to ensure a Higher High above the oncoming resistance formed by the 'old cluster' of candles.
Wrap:
Buoyant Bulls seek a Higher High and life above the 61.8% Fibonacci retrace.
Bears wish to defend this resistance zone and send the index towards the Kumo.
