2022/07/10 08:10 AM – CRUDE OIL – STILL CAUGHT BETWEEN THE KIJUN-SEN IN SUPPORT AND THE TENKAN-SEN IN RESISTANCE …

CRUDE OIL -STILL CAUGHT BETWEEN KS AND TS ! by Ironman8848 on TradingView.com

Briefly through 4 time frames (W1,D1,H4 and H1) 

W1 :Bearish  engulfing pattern triggered last week ! 
D1 :Daily Tenkan-Sen @ $ 104.57 ( bullish above,  bearish below on the Daily time frame). 
H4 :Recovery move in the 4 hours time frame (clouds  resistance area $ 108 – $ 109. 
H1 :On intra-day, one hour basis, the Crude is supported by the cluster of  TS ,  KS and MA21 between $ 103.50 and $ 103.20 

Weekly

Weekly range…High $ 111.45 and Low $ 95.10 which triggered a black candle ( Bearish Engulfing pattern) ! 

Caught betwenn the Tenkan-Sen @ $ 104.17 (support ) and The Kijun-Sen @ $ 109.39 (resistance). 

The MA 21 being roughly in the middle @ $ 107.10. 

Daily

Currently below the daily clouds ($ 106.47 – $ 110.07). 
The tenkan-Sen @ $ 104.57 is the daily support to look at very carefully as a failure to hold and stay sustainably above it would reopen the door for lower levels. 
The Lagging Line us again in the clouds. 
On the upside a daily closing above the Kijun-Sen, currently @ $ 109.39 would confirm further upside. 

4 Hours

In recovery mode with the clouds  resistance area ($ 108 – $ 109 ) ; twist in focus ! 

1 Hour

Currently above the clouds, hourly  support zone of the cluster of the Tenkan-Sen, Kijun-Sen and MA21 between $ 103.50 and $ 103.20. 

Lagging line still above the clouds. 

IRONMAN8848 – Jean-Pierre Bürki

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All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

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