After setting low on February 11th at 26.03 WTI started correctional gains which so far ended on March 18th high on 42.46. For two sessions there is a try of breaking Tenkan-sen 37.66 and Kijun-sen 38.31. If this support will stop bullish trend price probably will come back to Senkou Span B 34.35 support. Chart will be above bullish Kumo tomorrow, but because Tenkan-sen crossed Kijun-sen, it will not be classic buy signal. However WTI likes to move in strong moves so there is a possibility of testing (5/8) 40.63.
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Signal for ending bullish wave will be another drop of price below H4 Tenkan-sen 36.50. So far chart reached third level of balance Senkou Span B 37.66. Chikou Span also hit the resistance, but as long as price stays above Kijun-sen 37.11, there is possibility of bullish scenario. However if we want to invest on H4 consistent with trend, we should wait for decrease below Tenkan-sen. Especially because price stays below bearish Kumo on this time frame.
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We can see how important resistance is on the weekly chart. Here chart is moving between three balance levels. Support is set by Tenkan-sen 34.25. First resistance is at Kijun-sen 38.06. Above it we have open road to SEnkou Span B and (3/8) 43.75-44.29.
