WTI - It's not just sideaway, it's been a doji for 5 days
Get ready! Trading range has become so thin, that the breakout and next move will be very agressive.
Technical picture has not chenged anything since my last post, except that Heikin Ashi signals an absolute undecision. Investors are clueless. No one really believes now that a break and fly to 70+ can hapen, but nor they believe it should really drop.
Tenkan and Senkou A still point up, price is above Kijun and we have a thick Kumo support below price.
As I believe in a weaker USD and more global risk on in coming months, I still believe that WTI price break is more likely to happen on the upper side. Next spike above 61 should be a firm (and maybe an ultimate) buy signal. If that happens, we will see a sharp move up to 70+ area.
p.s.: I already have some long position.
Technical picture has not chenged anything since my last post, except that Heikin Ashi signals an absolute undecision. Investors are clueless. No one really believes now that a break and fly to 70+ can hapen, but nor they believe it should really drop.
Tenkan and Senkou A still point up, price is above Kijun and we have a thick Kumo support below price.
As I believe in a weaker USD and more global risk on in coming months, I still believe that WTI price break is more likely to happen on the upper side. Next spike above 61 should be a firm (and maybe an ultimate) buy signal. If that happens, we will see a sharp move up to 70+ area.
p.s.: I already have some long position.
