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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 is now negotiating a resistance zone, after taking off from the Kijun Sen (red) earlier cleared the Resistance at the Tenkan Sen (blue) last week.
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:
Index above the Tenkan Sen and into a resistance zone - last three candles indicate 'Deliberation'.
Looking Forward into this Week:
Bulls would want to keep Index above the Tenkan Sen(blue) and float the Chikou Span above the Price line.
Bears make the Index stop at the old resistance cluster, and now want to head it 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:
Deliberating Bulls seek a Higher High and a clear breakout from this zone..
Bears wish to defend this resistance zone and send the index back towards the Kumo.
