Drama in two acts. A doble top?

FX:USOIL   CFDs on Crude Oil (WTI)
228 5 5
- Failure at 51+ key resistance. No break of neckline means no validation on longer term inverse Head &Shoulders idea ( pls             see earlier posts).
- ha Delta called your attention for loss of momentum two weeks ago! Heikin-Ashi candle clearily signalled a top last week! We have a heavy red reversal candle confirming it this week. -> next question: will it lead to a dramatic double top later?
- MACD negative divergence was also a warning signal
- Bullish trendline penetrated, but as we have multiple supports between 44-45,50, this zone may provide some support for some time... later we'll see what price action we have

- I had some short from 50,70, but frankly speaking I closed it way too early. 27/Oct candle made me indecisive as back then the structure looked rather bullish for longer term. Well, I was wrong, Price collapsed.
- Kijun, 100wma broken, and we have a weak bearish Tenkan/Kijun cross. Trendline penetrated, but market still has the spot Kumo below as a support/resistance zone.
- Heikin-Ashi has been heavy bearish , but be careful now, as haDelta and DMO             reached extreme lows, while price got to Kumo.

From now this structure has to be considered as a sell on tops, until price is below Kijun, and EWO             is red. In case market spikes to 47-48 zone and you see a sell signal there, do not hesitate.
By the way if that happens, that can lead to a H&S pattern on daily. That formation with a weekly Double Top would be extremely bearish , with possible target to 39... or even to 28.

Note: Since I have closed all my NOK             longs too, I don't have any Oil             exposure now. I am flat, waiting for value levels to trade.
My Warn Signals before yours.
My P/L before yours...
Bad idea. Oil is set to go to $60s imo
Kumowizard nyanmaung
From this point, both scenario are possible, but the bullish chances are lot lower now. You can be right only if price manages to get back above 48 usd. A lot of damage has been made to both time frames.
Going down into the cloud. Bearish
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