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Saturday, September 26, 2015

Brent Crude Oil - Ichimoku Study - Hold - Week 5 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)

Bears hold the Tenkan Sen #W2.

Chikou Span points up and takes aim for the price line #W1.
Gap between the Senkou Span A & B,  wide and steady #W3.
Gap between Tenkan Sen and Kijun Sen, widens some more #W2.


Wrap: 

Bulls, knock on the Tenkan Sen once again refusing to fall further #W2. 

Stoic Bears manage defend the Tenkan Sen, despite a green 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 what Bulls are aiming for #W2.


Wrap:

Staying above the previous low, and breaking above the Tenkan Sen #W2, is the next Bull task.
Stoic Bears defend the Tenkan Sen, but fail to prevent a green week #W1.

Say....