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Sunday, July 19, 2015

Brent Crude Oil - Ichimoku Study - Kijun Sen Action - Week 4 of July 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 continues is drop with the price, sliding along just above the Index #W1.
After managing a close above the Kijun Sen the previous week, Index slips below it last week #W2.

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


Wrap: 

Bulls fail to keep Index above the Kijun Sen #W2 but keep the Chikou Span above the Price line #W1. 

Bears force price lower, and hold the advantage by moving below the Kijun Sen #W2.


Looking Forward into this Week:



Chikou Span is just above the Index, Bulls are wary of a Bearish cross, to below the index #W1.
Index closing below the 'Kijun Sen', is 
good for the Bears, as its a strong resistance when its below the Kumo #W2.
Gap between the Senkou Span A & B is wide, making a thick Kumo - and a strong future resistance #W3.
Gap between the Tenkan Sen and the Kijun Sen steadies -  bullish deflection or bearish cross possible #W2.



Wrap:

Index getting back above the Kijun Sen #W2, and Chikou Span remaining above the Price line #W1, are both good for a Bull Case.
Bears hope to keep the action, below the Kijun Sen, this week.