Saturday, July 1, 2017

Brent Crude Oil - Ichimoku Weekly Study - Kumo Life 4 (Kumo Bottom Bounce) - Week 1 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)

Bulls take support from near the Kumo Bottom. Senkou Span A and B deflect for now.
Bulls keep the Large wave 'Higher Low', Bears continue the Short wave 'Lower High : Lower Lows'.
Chikou Span (white) bounces off the Kumo (extreme left).

Index goes green in the  the Kumo (center). Chikou Span bounces off the Kumo (left). Senkou Span A & B deflect for now (right)

Looking Forward into this Week:

Chikou Span bounce at the Kumo was the bull ask (left) which they got.
Price Support at the Kumo Bottom was also the Bull hope, clearing the Tenkan Sen (blue) is  next (center).
Senkou Span A&B 'deflection', now gives power to Bulls (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 possible Bearish Senkou Span A and B cross (right)