Interesting action ahead!
Weekly:
- Bearish Ichimoku and bearish trendlines with supports: 37,50 (future Senkou A), 39,20 (Kijun) and 45 as key strategic reversal (Senkou B)
- Heikin-Ashi weekly candles print second doji in a row. None of them had a lower low compared to last red candle. Hesitation. haDelta/SMA3 at zero --> watch if moves above zero (confirming more pull back towards bearish supports)
- If EWO can't make a new wave low below -12, then bears can lose control.
Daily:
- Ichimoku is bearish, but market mayhave problem with further bias: despite Price turned down from Kijun Sen in last three days, Tenkan still points up. This also means a slight convergence in Senkou lines (future Kumo)
- Watch Heikin-Ashi! haDelta has made an extreme low in last two days, but price seems to fail making a new low! If market can't make a lower low within next 1-2 days, then this last bearish continuation attempt will fail! In that case Oil can reach even 36,50-37 in next squeeze wave.
"Higher low requirement" means: no low below 27,60, optimal would be no low below 29,25!
- EWO shows positive divergence. Without a lower EWO value, bears will be in trouble as sell momentum may fade totally (or even reverse).
Weekly:
- Bearish Ichimoku and bearish trendlines with supports: 37,50 (future Senkou A), 39,20 (Kijun) and 45 as key strategic reversal (Senkou B)
- Heikin-Ashi weekly candles print second doji in a row. None of them had a lower low compared to last red candle. Hesitation. haDelta/SMA3 at zero --> watch if moves above zero (confirming more pull back towards bearish supports)
- If EWO can't make a new wave low below -12, then bears can lose control.
Daily:
- Ichimoku is bearish, but market mayhave problem with further bias: despite Price turned down from Kijun Sen in last three days, Tenkan still points up. This also means a slight convergence in Senkou lines (future Kumo)
- Watch Heikin-Ashi! haDelta has made an extreme low in last two days, but price seems to fail making a new low! If market can't make a lower low within next 1-2 days, then this last bearish continuation attempt will fail! In that case Oil can reach even 36,50-37 in next squeeze wave.
"Higher low requirement" means: no low below 27,60, optimal would be no low below 29,25!
- EWO shows positive divergence. Without a lower EWO value, bears will be in trouble as sell momentum may fade totally (or even reverse).
