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Saturday, August 15, 2015

Brent Crude Oil - Ichimoku Study - The Pin - Week 3 of August 2015.





Introduction / Primer to Ichimoku can be read at this link (click). 


Learning from the Earlier Study: 
(click here for the previous post)

Bulls defend the lows with a green week and the Chikou Span #W1, turns just above the previous low, while still below the Price line.

Bull's fight to close above the Jan'15 low, as they seek to (editedPin the Bears with some Green #W2.
Gap between the Senkou Span A & B  wide and steady #W3.
Tenkan Sen and the Kijun Sen, stay crossed bearishly #W2.


Wrap: 

Bulls, with all Signals against them, manage to stay around the last major low, with a green candle. 

Bears yet to enforce a significantly lower low, after all signals turn in their favour #W2.


Looking Forward into this Week:



Chikou Span can slide just below the Index, along the price line keeping the Bearish cross and pressure on any up-move #W1.
Index closing below the 'Kijun Sen', works well
 for the Bears (its called a 'strong bearish signal' as it occurred when the index was Bearish i,e below the Kumo) #W2.
Gap between the Senkou Span A & B is wide, making a thick Kumo - and a strong future resistance for Bulls #W3.
Tenkan Sen and the Kijun Sen make a Bearish cross - Bulls yearn for a Bullish re-cross next #W2.



Wrap:

Defending the recent lows of the Index, with a taller green candle, is what the Bulls would focus on, this week.
Dominant Bears seek to break this double bottom, and make a significantly lower low.


Say....