So it looks like Saudi Arabia finally had enough of low Oil price. They need to mark the bottom, or face consequences in their ccy devaluation.
Short squeeeeeeeze starts now!
Daily:
- Ichimoku is bearish, with supp/res levels at 44,10 and 46,00
- Heikin Ashi goes more bullish
4H:
- No lower low -> Ichimoku turns neutral
- Sharp reversal in Price makes bullish Heikin Ashi signal
- EWO testing zero, while Price testing 100 WMA
We are not yet out of the woods, but dips will likely be bought... if there will be dips... as mkt is extremely short in Oil.
Short squeeeeeeeze starts now!
Daily:
- Ichimoku is bearish, with supp/res levels at 44,10 and 46,00
- Heikin Ashi goes more bullish
4H:
- No lower low -> Ichimoku turns neutral
- Sharp reversal in Price makes bullish Heikin Ashi signal
- EWO testing zero, while Price testing 100 WMA
We are not yet out of the woods, but dips will likely be bought... if there will be dips... as mkt is extremely short in Oil.
