Crude notes for Bulls and Bears - Long, but...
For both groups I have one very important message: instead of continous guessing, talking, explaining "Why", and repeating B.S news, make your effort on timing instead!!!
Second message: This market looks less bearish, more bullish. Again, when and how to enter is very important, as volatility can kill good ideas if they are executed too early or to late. Let's see what Ichimoku and Heikin-Ashi tell us!
Weekly:
- Major long term bearish trend line is BROKEN! This doean't mean it can not be tested again, but the picture started to change!
- Shorter bearish trendline is being tested together with weekly Kijun Sen
- Weekly Kijun Sen ard 38,45 is Bears last hope now. In case Price closes above, Ichimoku picture will turn to neutral from bearish.
- Heikin-Ashi is counter bullish with strong weekly momentum, haDelta may reach a possible local top ard 4,20, however still holds above SMA3 and pointing up. Again, this doesn't mean Kijun will surely block further buyers and would save bears, it just calls attention, that maybe the intensity of buying will slow down, and candle bodies may start to shrink in coming weeks, while still stay green.
- EWO is bearish, but as I wrote weeks ago, it failed to make a lower low. It is slowly ticking higher, probably pointing towards a more neutral picture for the close future.
Daily:
- Horizontal key supp/res and 100 WMA cleared at 34,55! -> positive
- Price is trying to make a bullish Kumo breakout. Textbook confirmation requires a close above 38,50, which may not immediately happen, but after some consolidation/pull back.
- Price also seems trying to break the well defined bearish trend channel!
- Future Kumo made a bullish twist (Bullish Senkou Span cross 26 days ahead)
- Heikin-Ashi is bullish, but we have to be a little cautious here, as haDelta reached a possible extreme high print.
This last note is for the late bulls! Probably it is not the best level to buy. Or if someone enters now, has to be able to sit out a pull back to 34,50-35,00 or even to 32,50! So be precise with position sizing and timing of entry!
- EWO is bullish. We likely saw the first wave of a possible bullish run.
I think WTI can not be called bearish any more. We have more bullish signals lining up. Possibly it will continue bullish...
BUT...
Short term there are few early signs of possible pull back or consolidation before the next buy wave happens! For this reason everybody has to pay attention for risk/reward, when considering an entry.
Again, I don't say "do not buy here!", especially don't recommend any counter shorts as that really has a sht risk/reward (would be rather gambling to short this strength). I just have the feeling that it won't go straight above 40 from here. Anyway, if I will be wrong and it goes above 40, a pull back will have to happen at some point, so in that case I would re-enter again here after pull back from 40+ :-)
My strategy is to hold longs, but I lightenned up my position size for now.
Supports where I'd look for buy signals after Price pulled back to: 34,50-35,50 and 32,50-33,00
Good luck!
Second message: This market looks less bearish, more bullish. Again, when and how to enter is very important, as volatility can kill good ideas if they are executed too early or to late. Let's see what Ichimoku and Heikin-Ashi tell us!
Weekly:
- Major long term bearish trend line is BROKEN! This doean't mean it can not be tested again, but the picture started to change!
- Shorter bearish trendline is being tested together with weekly Kijun Sen
- Weekly Kijun Sen ard 38,45 is Bears last hope now. In case Price closes above, Ichimoku picture will turn to neutral from bearish.
- Heikin-Ashi is counter bullish with strong weekly momentum, haDelta may reach a possible local top ard 4,20, however still holds above SMA3 and pointing up. Again, this doesn't mean Kijun will surely block further buyers and would save bears, it just calls attention, that maybe the intensity of buying will slow down, and candle bodies may start to shrink in coming weeks, while still stay green.
- EWO is bearish, but as I wrote weeks ago, it failed to make a lower low. It is slowly ticking higher, probably pointing towards a more neutral picture for the close future.
Daily:
- Horizontal key supp/res and 100 WMA cleared at 34,55! -> positive
- Price is trying to make a bullish Kumo breakout. Textbook confirmation requires a close above 38,50, which may not immediately happen, but after some consolidation/pull back.
- Price also seems trying to break the well defined bearish trend channel!
- Future Kumo made a bullish twist (Bullish Senkou Span cross 26 days ahead)
- Heikin-Ashi is bullish, but we have to be a little cautious here, as haDelta reached a possible extreme high print.
This last note is for the late bulls! Probably it is not the best level to buy. Or if someone enters now, has to be able to sit out a pull back to 34,50-35,00 or even to 32,50! So be precise with position sizing and timing of entry!
- EWO is bullish. We likely saw the first wave of a possible bullish run.
I think WTI can not be called bearish any more. We have more bullish signals lining up. Possibly it will continue bullish...
BUT...
Short term there are few early signs of possible pull back or consolidation before the next buy wave happens! For this reason everybody has to pay attention for risk/reward, when considering an entry.
Again, I don't say "do not buy here!", especially don't recommend any counter shorts as that really has a sht risk/reward (would be rather gambling to short this strength). I just have the feeling that it won't go straight above 40 from here. Anyway, if I will be wrong and it goes above 40, a pull back will have to happen at some point, so in that case I would re-enter again here after pull back from 40+ :-)
My strategy is to hold longs, but I lightenned up my position size for now.
Supports where I'd look for buy signals after Price pulled back to: 34,50-35,50 and 32,50-33,00
Good luck!
