Saturday, February 17, 2018

Brent Oil - Ichimoku Weekly Chart Study - Red Line Holds - Week 4 of February 2018.
chart > 

Introduction & Primer to Ichimoku can be read at this link > click.


Index takes support near the Fibonacci 113%, after the fall due to the Stick Sandwich Pattern >> Link.
Bulls get a big green candle taking support near the Kijun Sen (Red Line).
Brent emphasizes the 'Higher Low' with this action.


Bulls, pray they can maintain this Higher Low and continue the up-move from here.
Bears, want life below the red line for starters.


Bears hope the momentum of the fall, will lead to more red and life near the Kumo ($50).
Bulls seek to use the current support to get back above the Tenkan Sen (Blue Line).