Brent Crude Oil - Ichimoku Weekly Study - Old high Resists - Week 1 of October 2017.

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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)

Index faces resistance at previous High - makes a shooting star.
Senkou Span A and B, stay crossed bullishly (right extreme). 

Chikou Span near the Price line (left).

Tenkan Sen and Kijun Sen remain crossed bullishly (centre).

Wrap:   

Index resisted at previous High, Throw Back begins?.

Looking Forward into this Week:

All Signals favor Bulls, Bears hope the Chikou Span crosses below 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, yet to happen - That's also 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, with a quick move towards $62.