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Sunday, July 26, 2015

Brent Crude Oil - Ichimoku Study - Kijun Sen Slip - Week 5 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 slipping below the Kijun Sen last week, Index dives down deeper #W2.

Gap between the Senkou Span A & B  wide and increasing #W3.
Gap between the Tenkan Sen and the Kijun Sen narrows further #W2.


Wrap: 

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

Bears force price lower, using the fall to below the Kijun Sen #W2.


Looking Forward into this Week:



Chikou Span is barely above the Index, Bulls wary of a Bearish cross, to below the index, would look for a bounce here #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 narrows some more -  bullish deflection or Bearish cross imminent #W2.



Wrap:

Index getting back above the Kijun Sen #W2, and Chikou Span remaining above the Price line #W1, are both what the Bulls would fight for, this week.
Keeping the action, below the Kijun Sen, Bears seek another Bearish Cross to help force the Price down, this week.