Saturday, January 6, 2018

Brent Oil - Ichimoku Weekly Chart Study - $67+ - Week 2 of January 2018.

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


Index heads for the next target of $71+, reaches $ 68 last week.
All signals favored the Bulls last week.
Index spent last week around the 127% Fibonacci retrace of the 'Last Bottom to Jan'2017 High'.


All Signals expected to favor Bulls.
Bears, sense hesitation in last week's 'Deliberation' candle.
Heading to the 141% Fibonacci ($71+) with the current momentum would be the Bull way.


Bears hope fatigue will lead to life below the Tenkan Sen (Blue line).
With another record close in recent times, Bulls seek to keep above $67.