WTI - Bears grilled, but Bulls not yet strong
Looked like a break, but what a difference one data makes! Serious intraday rally yesterday changed the picture again. Bears grilled themselves, but Bulls are not yet in the game.
Weekly:
- Ichimoku setup is bearish, until Price stays below Kijun Sen. If it goes above 48-50, the strategic picture would change to neutral.
- Major downtrend still holds, but trendline is very close!
- Heikin Ashi signal has been bearish since last week, but haDelta may keep its positive divergence.
Daily:
- Heikin Ashi sharply changed to bullish.
- Ichimoku setup is back to comforting neutral. Bulls need more signal and confirmation to start running. Obviously the reversal line is Kijun Sen ard 46,60.
4H:
- Ichimoku is neutral with weak bullish signals. Yesterday spike was nice, but reached short term resistance. We need some consolidation/pull back before the breakout.
- Dip to 44,65-45,15 area can be a nice long entry point. In other case if it breaks above 46, then just try to enter on any dips after. You buy higher, but with higher confidence.
Weekly:
- Ichimoku setup is bearish, until Price stays below Kijun Sen. If it goes above 48-50, the strategic picture would change to neutral.
- Major downtrend still holds, but trendline is very close!
- Heikin Ashi signal has been bearish since last week, but haDelta may keep its positive divergence.
Daily:
- Heikin Ashi sharply changed to bullish.
- Ichimoku setup is back to comforting neutral. Bulls need more signal and confirmation to start running. Obviously the reversal line is Kijun Sen ard 46,60.
4H:
- Ichimoku is neutral with weak bullish signals. Yesterday spike was nice, but reached short term resistance. We need some consolidation/pull back before the breakout.
- Dip to 44,65-45,15 area can be a nice long entry point. In other case if it breaks above 46, then just try to enter on any dips after. You buy higher, but with higher confidence.
