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.