Saturday, May 6, 2017

Brent Crude Oil - Ichimoku Weekly Study - Kumo Stop - Week 2 of May 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)

Kijun Sen (Monthly) and Kumo were support (Center).
Senoku Span A&B head for a Meeting (extreme Right)
Chikou Span (white) slides down above the price line (extreme left).

Index stops exactly at the Kumo - even as Bearish Signals intensify.

Looking Forward into this Week:

Chikou Span can slide down above the Price line for some more.
Bearish cross/Bullish deflection of the a) Kijun Sen (red) & Tenkan Sen (blue), b) Senoku Span A&B, is on.
Index now on Lower High, Lower Low mode and the Support at the Kumo becomes critical.

Bulls after holding the fall at the Kumo, look for a bounce.
Bears seek to press their advantage and keep the 'Lower Low - Lower  High', going....