No drama yet, but watch weekly haDelta signal!

FX:USOIL   Crude Oil (WTI)
307 4 10
Last week I thought the rally would soon stop, and we could see a pull back. This week I think the same. Price has not yet really changed, but some signals suggest us to be even more cautious here and now.

- Ichimoku is neutral! Price at Kumo cloud, above Tenkan and Kijun, but it also too far above Kijun Sen, and reached a key horizontal resistance. Consolidation or pull back towards equilibrium can happen.
- Heikin-Ashi signal has been continous bullish for 7 weeks! But we had the first small warning signal last week in form of an extreme but still slightly lower high in haDelta! This week has just started, but we may have next important message from haDelta/SMA3: cross down and some negative divergence!
- I think the big story for this year will still be the major bullish reversal and LONG Oil             , but I believe we can buy it at lower levels soemtimes in near future.
Just like in case of EURCAD             , here a major Inverse Head & Shoulders formation can happen... in case Price tests back minimum to 44 (Senkou B), from where it could give another bullish signal, to finally confirm the trend reversal with a breakout. I say minimum 44, but of course we don't know if the dip happens at all, or if it happens it goes only to 44 or even lower, closer to 40.
Basically we'll have to focus on this 40-44 area, and look for weekly buy siganls there.

Note: the arrows are not my projections, so do not trade on those! The arrows only show possible moves, that could lead to an Inverse Head & Shoulders pattern in case!

- No drama yet. Ichimoku setup is bullish . Kijun support is ard 46,40.
- Heikin-Ashi is kind of neutral, but we have some negative divergence in haDelta: this means the previously agressive buying and strong momentum can chill down ard the 50 resistance and possible wedge top. Bulls may try to pop it above 50 one more time, but if they fail again, the profit taking wave can be heavy.
Going up after retracement in Kumo is a big question because i don't see wave 4-5 (must have 3-x impulse waves to one direction from may 2015)

Do you think there will be further increase?
As I wrote above, I think short term it is a bit overbought and Price hit resistance at 50. Some profit taking and a pull back here is possible. The long term picture can become very bullish in case we see new and heavy buying in 40-43 zone, but obviously no one sees the future precisely :-)
2016JP Kumowizard
:) OK , Tanks.

Let's wait
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