Saturday, October 28, 2017

Brent Crude Oil - Ichimoku Weekly Study - Higher High - Week 1 of November 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)

Index after a 'Three Outside Up' pattern makes a Higher High.
Senkou Span A and B, turn up and diverge bullishly (right extreme). 
Chikou Span deflects neatly off the Price line (left).
Tenkan Sen and Kijun Sen, turn up and diverge bullishly (center).


Wrap:   
Index makes an Three Outside Up pattern above support, Target in sight..




Looking Forward into this Week:

All Signals favor Bulls.
Keeping above the 61.8% Fibonacci (Of this year's Hi and Lo) and reaching $62 is the Bull plan.
Throw back to the Kumo, is still an expectation of the Bears.


Wrap:
 
Bears hope for a 'Throwback', from resistance near the target.
Bulls seek to keep the advantage with the Three Outside Up, for move towards $62.