Saturday, August 1, 2015

Brent Crude Oil - Ichimoku Study - Bear Up - Week 1 of August 2015.

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

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

Chikou Span continuing is drop with the price, finally makes a bearish cross below the Index #W1.
Bears Up, as Index dives deeper, after slipping below the Kijun Sen #W2.

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


Bulls find all Signals against them, left to defend the last major low. 

Bears aim for a lower low after all signals turn in their favour #W2.

Looking Forward into this Week:

Chikou Span can slide just below the Index, along the price line keeping the Bearish cross and pressure on any up-move #W1.
Index closing below the 'Kijun Sen', works well
 for the Bears (strong bearish signal as it happened when Price was below the Kumo) #W2.
Gap between the Senkou Span A & B is wide, making a thick Kumo - and a strong future resistance for Bulls #W3.
Tenkan Sen and the Kijun Sen make a Bearish cross - Bulls hope for a Bullish re-cross next #W2.


Defending the last major low of the Index, with a green week, is what the Bulls would focus on, this week.
Dominant Bears seek to get below the Jan 2015 low.