As I wrote in my last Twitter note, Crude is making a consolidation just above daily Kijun Sen.
Basically quite neutral on all time frames, but somehow the short term bias still looks slightly more bullish, until it holds above 43.
Weekly:
- Bearish Ichimoku setup still valid. Possible bullish wedge being built.
- Interesting note I read: This is already the longest streak in history, when WTI trades below its 200 days SMA!
- Heikin Ashi shows absolute undecision, consolidation after the massive spike from the lows.
- 49,50-50 is becoming a possible strategic reversal level!
Daily:
- Ichimoku setup is turning to neutral: Chikou Span hits past candles, Price trades between Tenkan and Kijun (above Kijun), Tenkan/Kijun are in weak bullish position, future Kumo shades price.
- Heikin Ashi pattern seems to be a noise here. I don't see problem with holding some longs until Price holds above 43.
- Watch for end Wave 2. If Third wave starts, that can send Price up minimum to the supp/res zone 47,5-49,50.
In case you hold long, or you consider to enter long in dips, you must focus on "43 - buffer" as a stop level.
Basically quite neutral on all time frames, but somehow the short term bias still looks slightly more bullish, until it holds above 43.
Weekly:
- Bearish Ichimoku setup still valid. Possible bullish wedge being built.
- Interesting note I read: This is already the longest streak in history, when WTI trades below its 200 days SMA!
- Heikin Ashi shows absolute undecision, consolidation after the massive spike from the lows.
- 49,50-50 is becoming a possible strategic reversal level!
Daily:
- Ichimoku setup is turning to neutral: Chikou Span hits past candles, Price trades between Tenkan and Kijun (above Kijun), Tenkan/Kijun are in weak bullish position, future Kumo shades price.
- Heikin Ashi pattern seems to be a noise here. I don't see problem with holding some longs until Price holds above 43.
- Watch for end Wave 2. If Third wave starts, that can send Price up minimum to the supp/res zone 47,5-49,50.
In case you hold long, or you consider to enter long in dips, you must focus on "43 - buffer" as a stop level.
