Brent Crude Oil - Ichimoku Weekly Study - Hang Men - Week 5 of August 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)

Last on the screen are two Hangman Candlestick just below the Kumo Top (centre).
Senkou Span A and B, stay crossed Bearishly (right extreme). 

Chikou Span between the Blue and Red lines and below the Price line (left).

Wrap:   

Index makes 2 Hangman candles, still below the Kumo Top and above the red and blue supports.

Looking Forward into this Week:

Chikou Span getting above the Price line is now the Bull hope (left).

Clearing the 61.8% and heading to the 127% (centre) is the next Bull Need.
Senkou Span A&B, Bearish 'cross' (right) helps Bears.

Wrap: 

Eager Bulls, look to hold the large wave 'Higher Low' and  POP out of the Kumo.

Bears again look to HANG out near the Kumo bottom, defending the resistance ($53) of the last few weeks.