BETTER CALL BEAR
Updated
Let's face it, since Mon 28th Feb, Oil has been in a black-swan bubble, which completely divorces from the gently ascending trend line formed pre the Russian aggression. Within that bubble, until WTI closes above $116 on the daily, it remains still in a bearish trend.
Recently, price has formed a 3 consecutive green candles, strong but diminishing, suggesting bullish sentiment is petering out. As such, I expect Monday (or when the holiday ends) to be a red-candle day.
On the other hand, on the 4h, price prints a bullish falling wedge, so there's still potential for more bull moves next week.
It might take a while for the next spike that breaks down the bubble, signalling a return to normality, but it will come.
Recently, price has formed a 3 consecutive green candles, strong but diminishing, suggesting bullish sentiment is petering out. As such, I expect Monday (or when the holiday ends) to be a red-candle day.
On the other hand, on the 4h, price prints a bullish falling wedge, so there's still potential for more bull moves next week.
It might take a while for the next spike that breaks down the bubble, signalling a return to normality, but it will come.
Note
ICT Kill zones haven't worked for me, at least with Oil.
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