Saturday, August 25, 2018

Brent Oil - Ichimoku Weekly Chart Study - Red Line Take Off - Week 5 of August 2018.






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

PAST

Index, after a 'lower High and lower Low', took support at the red line (Kijun Sen) for a few weeks.
Chikou Span (white line - see left) makes a Bullish Deflection off the Price line.



NEXT

Bears, after making a
 'lower High and lower Low' seek to retain the trend.
Bulls taking off from support at the red line, would attempt a Higher High and life above the blue line.



WRAP


Bears want red and a  'lower High after the lower Low'.
Bulls after take off from support, now need to break trend with a High above $80.