CRUDE OIL -STILL CAUGHT BETWEEN KS AND TS !

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