On the bright side, the seasonality and the weather should play or is expected to play on the bullish side.
I drew on the weekly graph one Andrew's fork as well as a diagonale resistance in yellow. It seems to me that it is not yet invalidated but close to that (Andrew's fork).
Weekly and daily prices are below Ichimoku's cloud and below Pivot Point, Stochastic and MACD are as well on a negative trend
However Fibo's retracement daily at 98.3 is still holding. Support daily is at 97.1.
To summarize my view: if at closing, price goes below 97.5 - 97, I will consider going short with the target of 93.5.
Above 98.5 I will consider going long (or I keep my long if 98 is holding)
« Back to index