Kumowizard
Short

WTI - It's still a range. Bias changes again to bearish

FX:USOIL   Crude Oil (WTI)
297 1 5
Daily:
- Equilibrium has been developed around 48,00 (Senkou B is actually 48,11)
- Price trades in a wide range: 43,00 - 52,35
- Ichimoku setup is absolutely neutral: flat average lines, this Kumo, Chikou hits Price candles (couldn't cross above them).
- Heikin Ashi signal is short temr bearish again. Acceleration expected below daily Kijun Sen.

4H:
- Ichimoku is turning from bullish to neutral/bearish again: Price broke below Kijun Sen, weak Tenkan/Kijun bearish cross
- DMI/ADX shows bullish momentum is decreasing
- However Heikin Ashi short term signals one more pop up is possible towards 49,50, but I think sellers would dominate there again.

For a daily bullish reversal (a counter trend against the massive bearish weekly chart) Price will have to make a Kumo breakout next time. That is not impossible as the Kumo gets very thin, but for now the bias is short term bearish again.
WTI is not suitable for trend traders right now, but those who like to trade ranges can make good money both ways.
HiTech PRO
2 years ago
Agree on that, looks down to me as well, what is your target?
USOIL SHORT TRADE SETUP
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