Kumowizard
Long

WTI - Can we see finally some correction?

FX:USOIL   Crude Oil (WTI)
166 1 3
Daily:
- longer term Ichimoku picture is still bearish (-), Kumo is thick above Price. Kijun Sen got close to Price, we may see a retest or an attempt to spike above. Chikou Span started to lose open space (sign of consolidation, possible bottom building)
- Second bullish Heiken Ashi candle today (+)
- haDelta sis above SMA3, both crossed back above zero line, and of course the bullish divergnece is still there (+)
- HA Oscillator bullish too (+)

WTI is far away from a trend reversal, but there is a good chance that we finally see the long waited correction with a posiible tgt             somewhere between 51-54 USD. However Price still have to fight with 48,20 - 48,50 resistance first.

4 Hrs:
- Price is in the Kumo, but above 100 WMA and Kijun Sen, and above furture Senkou B line (neutral / slightly bullish )
- We have a weak bullish Tenkan/Kijun cross, a weak bullish Chikou SPan cross above Price, and positive DMI             with increasing ADX (+)
- Heiken Ashi candles are bullish , haDelta/SMA3 above zero line, HA oscillator bullish . Last two candles and haDelta shows some consolidation after Friday's extreme move, but given the whole picture the recent low will likely be bought.
We have to see haDelta cross above SMA3 to happen above zero line. That would be a confirmation for further bullish gains, and of course Price also have to break above the Kumo and print a higher high above prev 48,20 candle top.

In case of a bullish 4H Kumo breakout WTI will likely test 51-52 level.

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Krio
2 years ago
target reached :-) good call. thank you again Kumowizard!
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