Saturday, January 13, 2018

Brent Oil - Ichimoku Weekly Chart Study - $71? - Week 3 of January 2018.
chart > 

Introduction & Primer to Ichimoku can be read at this link > click.


Index heads for the next target of $71+, reaches $ 70 last week.
All signals favored the Bulls last week.
Index spent last week in the 127% to 141% Fibonacci retrace of the 'Last Bottom to Jan'2017 High'.


All Signals expected to favor Bulls.
Bears, hope for pause as index reaches target of $71.
Clearing the 141% Fibonacci ($71+) with the current momentum would be the Bull plan.


Bears hope resistance at the next Fibo, will lead to life below the Tenkan Sen (Blue line).
With another record close in recent times, Bulls seek to reach $71.