Saturday, January 27, 2018

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

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


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'.


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.


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.