Brent Crude Oil - Ichimoku Weekly Study - Kumo Holds again - Week 1 of June 2017.

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Introduction / Primer to Ichimoku can be read at this link (click).

 


Learning from the Earlier Study: (click here for the previous post)

Bears after defending the defending the 61.8% Fibonacci retrace of the last Major Hi-Lo, crash index back to the Kumo.

Bulls taking support at the Kumo, also ensure a Short wave 'Higher Low'  in sync with the Large wave Higher Low at the Kumo.

Chikou Span (white) is at the price line (extreme left).

Wrap:   

Index turns at the critical Fibo 61.8% and takes support a the Kumo.

Looking Forward into this Week:

Chikou Span could run below the Price Line - unless Price spikes (extreme left).

Bearish cross  of the Kijun Sen (red) & Tenkan Sen (blue) now looks tenuous.
Senoku Span A&B 'stand off' gives hope to Bulls (extreme right).

Wrap: 

Bulls after stopping at the Kumo twice, look for a Higher High.

Bears seek life inside the Kumo.