Kumowizard
Short

WTI - Warning! The Pull back (counter bull) may end soon!

FX:USOIL   Crude Oil (WTI)
465 9 12
Weekly:
- Ichimoku setup is still strategic bearish . Price has reached weekly Kijun Sen, which should act as bearish support
- Not much room left for the bulls up to the major trendline resistance.
- Weekly Heikin Ashi candle prints a smaller body with no higher high compared to last week's candle. haDelta crosses back below SMA3 after reaching an extreme high level
- chance for a dip in coming weeks towards 52 - 52,50 support area started to increase.

Daily:
- Ichimoku setup is still bullish on the daily tf. Supports are: 56,50 (Kijun Sen) and 52,30 +/- (Kumo cloud)
- Heikin Ashi setup gives a serious warning signal! Heikin Ashi candles show hesitation, Price could not reach a higher high, haDelta/SMA3 further down and below zero line now (!) after printing negative divergence during the last 7-8 days, Oscillator turns bearish .
- I think the pull back will extend and Price can reach minimum 56,50, but looking at the weekly chart even 52-53 area retracement is possible.

Get cover! Cut back long positions, and maybe open some 0,5 trade unit shorts.

compupix
2 years ago
Does anyone know the ticker symbol for USOIL on ThinkorSwim?
/CL doesn't have the same current price as what shown here. At 7:10 am PT:
58.84 USOIL
59.78 /CL
Thanks!
Reply
Kumowizard PRO compupix
2 years ago
I don't know the symbol there, but I think the difference comes from different maturity futures prices. Front contract is still June, but some provider might have replaced it with July contracts already, as June will have maturity next week. There is approximately 0,90 cents difference (premium) between June and July. (so July contracts trading appr. 0,90-0,93 higher)
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compupix Kumowizard
2 years ago
ThinkorSwim's default right now is /CLN5. Using /CLM5 DOES match what is shown here. Thanks!
Reply
Kumowizard PRO compupix
2 years ago
that's it. CLM5 is June, CLN5 is July. :-) welcome
Reply
Patladj.
2 years ago
Counter BULL will end when the price reaches $150 and EURUSD reaches $1.70. Enjoy and be informed. Inflation cycle kicked in on 17 of March 2015. Benefit from it. Stop looking at old exhausted market tendencies.
Reply
Krio
2 years ago
well, the consolidation goes on. do you think it can go below 56,70 support?
Reply
Yahia.Awes
2 years ago
What do you think Kumo?
Crude Oil, bullish scenario, what do you think?
Reply
Kumowizard PRO Yahia.Awes
2 years ago
If you do short term swing trades, then 58,10-58,30 acts (acted) as some support. If you put on Ichimoku on the 4H tf, then you can see the upper bearish supports are currently at 59,00 (Kijun) and 59,50 (Kumo). So if you bought it at 58,10, your first tgt can be 59,00 second tgt 59,50, but anywhow, don't forget to trail up your stop loss in time!
Reply
Where retracement? I can not see it. If can't see - still wait it.
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