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Sunday, July 12, 2015

Brent Crude Oil - Ichimoku Study - Kijun Sen Support - Week 3 of July 2015.







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


Learning from the Earlier Study: (This is a new study)


Chikou Span drops with the price, sliding just above the Index #W1.
After slipping below the Tenkan Sen earlier, Index crashes below the Kijun Sen, manages to close the week above this line #W2.

Gap between the Senkou Span A & B  wide and steady #W3.
Gap between the Tenkan Sen and the Kijun Sen reduces #W2.


Wrap: 

Bulls keep Index above the Kijun Sen #W2 and Chikou Span above the Price line #W1. 

Bears force price lower, but fail to keep the advantage #W2.


Looking Forward into this Week:



Chikou Span is just above the Index, Bulls are wary of a Bearish cross below the index #W1.
Index closing above the Kijun Sen, a strong support, good for Bulls #W2.

Gap between the Senkou Span A & B is wide, making a thick Kumo - and a strong resistance #W3.
Gap between the Tenkan Sen and the Kijun Sen reduces -  bullish deflection or bearish cross imminent #W2.



Wrap:

Index staying above the Kijun Sen #W2, and Chikou Span above the Price line #W1, good for Bull Health.
Slipping below these supports, is the hope for the Bears, this week.