Technical Analysis shows we are on the edge of a trend reversal:
This could be explained by fundamentals of the economics going wrong.
In particular, May future contracts on WTI quoted negative for the first time in history yesterday.
I would wait for a confirmation on the weekly kijun breakout before taking any position.
- RSI 730 x 4h is about to break its bullish support
- Price is about to break its uptrend support + weekly pivot + 4h tenkan + weekly kijun
This could be explained by fundamentals of the economics going wrong.
In particular, May future contracts on WTI quoted negative for the first time in history yesterday.
I would wait for a confirmation on the weekly kijun breakout before taking any position.