Oil put up nice HA reversal last month with divergences on momentum oscillators.
Look at monthly chart . Kijun and cloud is faaar... Prices like equilibrium. I am expecting a pause in downtrend and move back to 60 zone. But time will tell.Chart is bearish but ha delta is trying to get above 0.
Weekly is neutral with bullish bias. Two ha dojis and prices did close above kijun .
Daily gave a nice reversal last week and i took long. 200 sma is coming in as resistance. Close above can accelerate things. Ha delta is bullish. RSI held 40 zone. Worth noting is pullback from 42 just retraced 38.2fib which is pretty shallow and shows bulls in control.
Keep an eye on oil for move to 45 -50 , weekly res and 100 wma.
Look at monthly chart . Kijun and cloud is faaar... Prices like equilibrium. I am expecting a pause in downtrend and move back to 60 zone. But time will tell.Chart is bearish but ha delta is trying to get above 0.
Weekly is neutral with bullish bias. Two ha dojis and prices did close above kijun .
Daily gave a nice reversal last week and i took long. 200 sma is coming in as resistance. Close above can accelerate things. Ha delta is bullish. RSI held 40 zone. Worth noting is pullback from 42 just retraced 38.2fib which is pretty shallow and shows bulls in control.
Keep an eye on oil for move to 45 -50 , weekly res and 100 wma.
