purpurato59
Short

Oil about to reverse

FX:USOIL   Crude Oil (WTI)
After this fast rally, oil             is soon arriving at the crossing of the Ichi cloud. At this point you will also find the 2,618 extension of the first retracement of the rally (last idea stopped). I will wait for my signal and position once I have confirmation. The two indicators shown are both overbought and may be used to signal the entry.
I also think some big movements are coming in gold             . See related idea.
Thanks for your comments and likes.
That area around 46.6 is going to be hard fought over, unless it's taken out in the Asia/Europe session following the hawkish Fed statement.
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it broke through the cloud maybe going higher?
+1 Reply
That's a valid remark.
I would wait until one of the indicators comes back from the overbought. Trying to catch tops is not a good idea.
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