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Sunday, September 13, 2015

Brent Crude Oil - Ichimoku Study - Tenkan Sen Skirmish - Week 3 of September 2015.







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



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

After the index made a Lower low and Higher High (May 2015) #W1, #W2 - Bulls and Bears have a skirmish at the Tenkan Sen #W2.

Chikou Span points down away from the Price line again #W1.
Gap between the Senkou Span A & B,  wide and steady #W3.
Gap between Tenkan Sen and Kijun Sen, widens - they remain crossed bearishly #W2.


Wrap: 

Bulls, with all Signals against them, fight back and paint a green week #W2. 

Bears successfully defend the Tenkan Sen, winning the skirmish again last week #W2.


Looking Forward into this Week:



Chikou Span reaching the Price line, would take a couple of weeks at current rate, this is good for Bears #W1.
Gap between the Senkou Span A & B is wide at #W3 & above the last Price point, making a thick Kumo - and a strong resistance to an up-move #W3.
Index closing above the 'Tenkan Sen', is the next Bull hope #W2.


Wrap:

Staying above the previous low, and winning the skirmish at the Tenkan Sen #W2, is the next Bull task.
Dominant Bears seek more red weeks.