Monday, July 24, 2017

Brent Crude Oil - Ichimoku Weekly Study - Kumo Life (below Tenkan Sen) - Week 4 of July 2017.

Zoom into chart .. Click

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

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

Senkou Span A and B, stay on deflection path (right extreme).
Index stays below the Tenkan Sen (blue line) for the 8th week in a row.
Chikou Span above the Kumo (extreme left), Index closes below the 50% Fiboancci of the last major Hi Lo.

Index goes below the 50% Fibo(center). Senkou Span A & B deflect (right)

Looking Forward into this Week:

Chikou Span above the Kijun Sen is now the bull ask (left).
Clearing the Tenkan Sen (blue - centre) is the next Bull need.
Senkou Span A&B 'deflection' or 'cross', now is the next event on the horizon.

Bulls look to hold the large wave 'Higher Low' and and get above the Tenkan Sen (center).
Bears seek a Large Wave 'Lower Low' and life below the Kumo with a Bearish Senkou Span A and B cross (right)