Brent Oil - Ichimoku Weekly Chart Study - $71 - Week 1 of February 2018.

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PAST

Index touches target of $71 precisely, comes back with a green candle after a Harami.

All signals favored the Bulls last week, except for the Harami.

Index perfectly touched the 141% Fibonacci retrace of the 'Last Bottom to Jan'2017 High'.

NEXT

All Signals expected to favor Bulls, with the exception of the Resistance at 141% Fibonacci.

Bears, hope for a pause as index reaches target of $71.

Clearing the 141% Fibonacci ($71+) with the current momentum would be the Bull plan.

WRAP

Bears hope resistance at the 141% Fibo, will lead to life below the Tenkan Sen (Blue line).

With momentum on their side, Bulls seek to clear $71.