Kumowizard

So what now? Hard call. Short term upper key at 30,20

FX:USOIL   CFDs on Crude Oil (WTI)
474 0 7
Yesterday i thought 30,60-31,00 would be a good support and possible retracement, before price goes higher again. In fact it dropped more. Let's check how does it look like. I tell you it is confusing here.

Daily:
- Trend is still bearish . Price got close for a moment to Kijun, but did not reach it.
- EWO             still bearish
- Heikin-Ashi candle looks bearish again, but as always. closing will matter.
- haDelta turned down sharply from extreme top print and gets below zero, however SMA3 still well above zero -> shows very high volatility in last 3-4 days. What if market spikes with same illiquid conditions? Monitor how haDelta/SMA3 behaves. HA Oscillator is still bullish .
- Will oil             market give both bulls and bears a hard time with more choppy consolidation, or will it continue bearish with a lower low? Key is a lower low for bears!

4H:
- You may be surprised but Ichimoku setup is still neutral!!! It WAS neutral at 32+ and it is neutral at 29,65 too, as price still trades within a thick spot Kumo cloud!
- EWO             back zero (slightly below) -> neutral too
- forward Kumo 26 bars ahead is bullish (positive), and Tenkan is still above Kijun (medium bullish )
- haDelta/SMA3 suggests the sharp drop may be coming to a pause.

As you see it is really a hard call for the short term. We have a lot of confusing signals. Anyhow, not yet a safe buy! (nor a good risk/reward sell here)
All we have to watch now is 4H Heikin-Ashi candle signal! If you see it reversing to green and Price breaks back above Kijun Sen (30,20) then you may try a swing buy. Stops should be placed around 28,85.
Bearish positions I do not open in oil             , as I don't see very good long term strategic risk/reward here for the shorts.

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out