Saturday, June 24, 2017

Brent Crude Oil - Ichimoku Weekly Study - Kumo Life 3 - Week 4 of June 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)

Bears keep index in the Kumo - Bulls slow the fall near the Kumo Bottom. Senkou Span A and B converge.
Bulls keep the Large wave 'Higher Low', Bears continue the Short wave 'Lower High : Lower Lows'.
Chikou Span (white) touches the Kumo (extreme left).

Index remains in the  the Kumo (center). Chikou Span touches the Kumo (left). Senkou Span A & B converge (right)

Looking Forward into this Week:

Chikou Span bounce at the Kumo is the bull ask (left).
Price Support at the Kumo Bottom is also the Bull hope (center).
Senkou Span A&B 'convergence' gives power to Bears (right).

Bulls look to hold the large wave 'Higher Low' and Kumo Bottom Support to catapult the Index out of the Kumo (center).
Bears seek a Large Wave 'Lower Low' and life below the Kumo with a Bearish Senkou Span A and B cross (right)