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Monday, July 4, 2016

Brent Crude Oil - Ichimoku Weekly Study - Kumo Life Green - Week 1 of July 2016.






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


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

Index goes green as the Chikou Span breaks clear of the Kijun Sen #W1.
Index however stays in the Kumo, support was at the Tenkan Sen #W2.
Senoku Spans A and B cross Bullishly #W3.

Wrap:
Bulls get a Senoku Span Cross #W3, Chikou Span breaks up #W1, even as the price makes a green candle inside the 'Kumo' #W2.




Looking Forward into this Week:


Bulls now look forward to the Price breaking out of the Kumo #W2.
Keeping the the Chikou Span above the Kijun Sen, and the Senoku Span 'A' above the Senoku Span 'B' is the bull task from here #W3.
Bears hope to use the Kumo as resistance zone and get a move below it #W2.

Wrap:
Preventing a Kumo Breakout, is the Bear target #W2.
Taking advantage of the narrow Kumo, to make a Kumo Breakout is the Bull plan #W2.