WTI / H2 : Sinewave says probable reversal here..

My analysis tend to say that the momentum pushed us a little bit further than the theoric targets (because of the heavy momentum related to fundamentals going crazy about oil at the moment). But anyway market don't give a s*** about fundamentals ! And technically here, This is a very strong EXIT signal that is highlighed and I would suggest sellers should get out when they still have very great prices to do so ! I would expect retracement at this point but it's still too soon to call with confidence.. Agressive traders can of course manage an entry on the signal with a tight stop.. knowing that at this point it's still counter trend and that there's still a potential bearish continuation move that could take place if we go further. So buyer must place a stop here otherwise they risk to get caught in an ugly extended wave 5 that could go waaaaay below ! I'll personnally stay out of an agressiv entry here and monitor the next signals to come near the trend channel. On a bull signal I could enter an target TP1 then TP2 to securize the entry and keep a swing trade left open ou of this entry.

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Comment:

Told you to wait & see rather than acting prematurely and get caught into somthing ugly.. well it still tends to plead for the bears as suggested by sinewave...