WTI - Bearish momentum slows, pull back is possible
Weekly:
- after six weeks of hesitation WTI turned bearish again. Last two weeks we saw heavy selling, sending price down to Kijun Sen, which acts as bearish resistance now.
- Heikin Ashi is firm bearish.
Daily:
- Price could not break the major trendline and 200 day MA, instead it broke the bottom of the range, and collapsed through the Kumo. Note that Chikou Span is still above past Senkou B line, so despite it looks like a bearish Kumo break, we may see some pause here ard 51 supp/resistance
- Heikin Ashi shows bearish momentum started to drop in last two days. We have smaller candle bodies and higher lows. haDelta/SMA also reached extremely low level and started to correct higher. From here I think there is good chance for a pull back to 55-56 area, but there sellers will likely have strong interest.
- after six weeks of hesitation WTI turned bearish again. Last two weeks we saw heavy selling, sending price down to Kijun Sen, which acts as bearish resistance now.
- Heikin Ashi is firm bearish.
Daily:
- Price could not break the major trendline and 200 day MA, instead it broke the bottom of the range, and collapsed through the Kumo. Note that Chikou Span is still above past Senkou B line, so despite it looks like a bearish Kumo break, we may see some pause here ard 51 supp/resistance
- Heikin Ashi shows bearish momentum started to drop in last two days. We have smaller candle bodies and higher lows. haDelta/SMA also reached extremely low level and started to correct higher. From here I think there is good chance for a pull back to 55-56 area, but there sellers will likely have strong interest.