Saturday, August 25, 2018

Gold Futures CFD - 'Weekly Technical Analysis' - Lower Low to Higher High? - Week 5 of August 2018.





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

PAST

Bears seek and get a lower low (sub 1238) below the Fibonacci 61.8%.
Bulls manage a bounce off support at the Fibonacci 38%.


NEXT

Bulls with support at a significant Fibonacci level, seek to bounce back above the Fibonacci 61.8%.
Bears want to retain their advantage and keep it below the Blue line.



WRAP


Fibonacci 100% ($1375) and life above the Kumo, is the Bull plan.
Bears hope to keep it red and below the Blue line.


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






Investing.com
 
chart > 
Click


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.