Monday, August 21, 2017

Brent Crude Oil - Ichimoku Weekly Study - Hangman Pop - Week 4 of August 2017.





Zoom into chart .. Click



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


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

Last on the screen is a Hangman Candlestick at the Kumo Top (centre).
Senkou Span A and B, stay crossed Bearishly (right extreme). 
Chikou Span between the Blue and Red lines and below the Price line (left).

Wrap:   
Index makes a Hangman candle, still near the Kumo Top and above the red and blue supports.




Looking Forward into this Week:

Chikou Span getting above the Price line is now the Bull hope (left).
Clearing the 61.8% and heading to the 127% (centre) is the next Bull Need.
Senkou Span A&B, Bearish 'cross' (right) helps Bears.


Wrap:
 
Hopeful Bulls, look to hold the large wave 'Higher Low' and  POP out of the Kumo.
Bears look to HANG out near the Kumo bottom, defending the resistance ($53) of the last few weeks.