Saturday, June 9, 2018

Brent Oil - Ichimoku Weekly Chart Study - Blue Line Landing - Week 2 of June 2018.





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PAST

Index falls from its recent High of $81.50, ending last week with a Doji.
Brent Oil, drops from resistance at the Fibonacci 162% ($78) to Support, at the Blue line i.e.Tenkan Sen, last week.



NEXT

Bears, after defending the resistance @ $78, now eye the red line at $71.
Bulls plan to revisit the eighties using support at the Blueline.



WRAP


Bears seek more red and landing at the Red line ($71).
Bulls seek to trend on, off support, and reach the next target ($82-$89).