Kumowizard

Nothing special here and now

FX:USOIL   Crude Oil (WTI)
270 1 4
Weekly:
- Ichimoku setup is still bearish , so is the trend. Price trades below Kijun Sen and within the possible wedge.
- Heikin Ashi shows hesitation/consolidation: three doji-like weekly candles, haDelta/SMA3 back to zero.
- Most important key level is ard 50 -> major bearish trendline and weekly Kijun Sen.

Daily:
- Price and also Tenkan and Kijun stepped into the Kumo cloud, so Ichimoku setup is considered as neutral. Please note that in case price moves higher in 43,50-48,00 trading range, that would pull Tenkan thus Senkou A higher too, possibly causing a bullish future Kumo twist.
- Heikin Ashi was designed to filter as much noise as possible... well sometimes not even Heikin Ashi can filter it properly. We still don't have a clear picture, too choppy price action within a relatively wide range.
(Short term (today) Heikin Ashi picture seems to be a bit more bearish )

Summary:
After heavy short squeeze few weeks ago we have been experiencing a choppy consolidation. Longer term picture is bearish until price stays below 50. Short term there is no trend, would be bearish again below 43, otherwise it can stay neutral and keep trading in 43,50 - 48,00 range.
larry
a year ago
Swell update... Cheers mate.
Reply
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