How LOW can Oil Go?
Oil Price still in bullish trend even after retracing from HH2 price of Top of approximately 130 to current 90.
Sign of bullish trend
-Line C having stronger uptrend momentum/strength than line B
-Line C surpass above Fib Extension of 1.272 Line B
-Candlestick above MA200
-Staying above MA(Price approx 63) will still can consider as bullish trend
Some sign of bearish
-Candlestick falling below ichimoku cloud(not bearish confirmation yet)
-lagging Span fall below Candlestick
A closer look on the retracement:
test of downtrend strength within line C
Sign of bullish trend
-Line C having stronger uptrend momentum/strength than line B
-Line C surpass above Fib Extension of 1.272 Line B
-Candlestick above MA200
-Staying above MA(Price approx 63) will still can consider as bullish trend
Some sign of bearish
-Candlestick falling below ichimoku cloud(not bearish confirmation yet)
-lagging Span fall below Candlestick
A closer look on the retracement:
test of downtrend strength within line C
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