So lets take a look at oil..
Monthly is in downtrend. No doubt about it. Price is coming into tenkan sen support . If it holds, we got KS around 65sh which will be head and shoulder target too. But too early to say for now
Weekly is neutral. Price is in cloud. We have Kijun sen support coming up. I am more interested to see how we do here for next two weeks.
Daily is in downtrend . But if weekly kijun holds and daily kijun breaks, I will consider 0.5 unit long and then add later. Dont get too bearish on oil just yet. This is a big big level.
Monthly is in downtrend. No doubt about it. Price is coming into tenkan sen support . If it holds, we got KS around 65sh which will be head and shoulder target too. But too early to say for now
Weekly is neutral. Price is in cloud. We have Kijun sen support coming up. I am more interested to see how we do here for next two weeks.
Daily is in downtrend . But if weekly kijun holds and daily kijun breaks, I will consider 0.5 unit long and then add later. Dont get too bearish on oil just yet. This is a big big level.
