- setup is neutral, with bias, until price holds above Kijun at 43,40. All averages are flat and close to each other, but Tenkan is above Kijun, and both are located at Kumo top. This means we still have quite some supports below price.
- Heikin-Ashi candles four weeks in a row show indecision and lack of trend. Price action is tight in a simmetric triangle. haDelta maybe crossing up, if it happens, haOscillator will follow next.
- EWO is neutral -> no trending momentum
- shows consolidation period
- if Triuangle breaks on upper side, measured target would be ard 63-63.
- is neutral, with flat average lines, all at same level. Price just can not move away from Kumo cloud since August! Trading takes place in a tightenning triangle.
Forward Kumo cloud has bias. Lower supp/res is 43-43,60, upper key level is around 47,25-47,75.
- Heikin-Ashi signal is swing , but it is something I would not really trade now, not until haDelta and haOscillator stay above zero.
- EWO also ticks lower, but it will gain momentum only it price breaks below 43.
Obviously we have two "fundamental" key factors now to watch besides technicals: USD price action (the weaker the Dollar goes, the more positive can be for commodity prices in general), and OPEC.