ProFX_Strategist
Short

Possible Pullback

FX:USOIL   Crude Oil (WTI)
49 1 6
The Ichimoku indicator gave a very-strong bullish signal for the uptrend (back in mid-April)... The bullishness has ever-since progressed with great strength until today... (Note how the bright-green MA has crossed-over the bright-red MA back in middle-April; happening above the cloud; which is a very strong bullish signal indeed.)

Technically, the uptrend-resumption is strong. But it would be wise to anticipate pull-backs of some form... Eventually, do expect the bright-green & bright-red MA to cross over each once again (as both MAs can't be separated for too far apart); perhaps price would be directed to some downside soon; possibly to the cloud-supports below... (The bright-green MA is where the price is sitting on...)

In addition, it is very important to pay attention to both the MACD & RSI indicators too (see the chart)...

The MACD coordinates well with the RSI , & especially very well with the Ichimoku's moving-averages... (Price crossovers/divergences...)

Best regards.
Aiming to be a "marksman" in scalping & "speculation". As retail traders, we are just "speculating" these markets-volatility in our retail-trading-platforms (E.g. we do not physically owned 100-Lots of Gold nor is storing a thousand-barrels of crude oil)
Ichimoku_Trader
6 months ago
100%
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