Saturday, July 15, 2017

Brent Crude Oil - Ichimoku Weekly Study - Kumo Life 6 (Fibo 50%) - Week 3 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 again get stopped near the Kumo Top. Senkou Span A and B on deflection now.
Bulls keep the Large wave 'Higher Low', Bears continue the Short wave 'Lower High : Lower Lows'.
Chikou Span (white) points up (extreme left), Index closes above the 50% Fiboancci of the last major Hi Lo.

Index goes green above 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).
Piercing the Kumo Top is now the Bull hope, clearing the Tenkan Sen (blue) is next (center).
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 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)