- Trend is still . Price got close for a moment to Kijun, but did not reach it.
- EWO still
- Heikin-Ashi candle looks 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 in last 3-4 days. What if market spikes with same illiquid conditions? Monitor how haDelta/SMA3 behaves. HA Oscillator is still .
- Will oil market give both bulls and bears a hard time with more choppy consolidation, or will it continue with a lower low? Key is a lower low for bears!
- You may be surprised but 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 (positive), and Tenkan is still above Kijun (medium )
- 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.
positions I do not open in oil , as I don't see very good long term strategic risk/reward here for the shorts.