TP on half of shorts. Look for sell signal at 9,38-9,40
As goes the Oil.... goes the NOK (more or less).
- Daily trend is bearish, and Weekly HA structure also suggests the pair has chance to continue lower towards 9,03-9,09.
- However short term I see wave exhaustion signal on daily: haDelta/SMA3 already signalled yesterday minor momentum drop. Today candle confirms start of consolidation/pull back above 9,25 resistance. Candle has both upper and lower wicks, haDelta moved more up.
- I recommend to take profit on half of short positions. Doha w/e, and as I wrote yesterday, WTI and Brent oil started a pull back too.
- Bearish support is 9,38-9,41 area, looking to re-sell there.
- Daily trend is bearish, and Weekly HA structure also suggests the pair has chance to continue lower towards 9,03-9,09.
- However short term I see wave exhaustion signal on daily: haDelta/SMA3 already signalled yesterday minor momentum drop. Today candle confirms start of consolidation/pull back above 9,25 resistance. Candle has both upper and lower wicks, haDelta moved more up.
- I recommend to take profit on half of short positions. Doha w/e, and as I wrote yesterday, WTI and Brent oil started a pull back too.
- Bearish support is 9,38-9,41 area, looking to re-sell there.
