Brent Crude Oil - Ichimoku Weekly Study - Kumo Stop - Week 2 of May 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)

Kijun Sen (Monthly) and Kumo were support (Center).

Senoku Span A&B head for a Meeting (extreme Right)

Chikou Span (white) slides down above the price line (extreme left).

Wrap:   

Index stops exactly at the Kumo - even as Bearish Signals intensify.

Looking Forward into this Week:

Chikou Span can slide down above the Price line for some more.

Bearish cross/Bullish deflection of the a) Kijun Sen (red) & Tenkan Sen (blue), b) Senoku Span A&B, is on.
Index now on Lower High, Lower Low mode and the Support at the Kumo becomes critical.

Wrap: 

Bulls after holding the fall at the Kumo, look for a bounce.

Bears seek to press their advantage and keep the 'Lower Low - Lower  High', going....