USOIL Crude oil for June delivery was up 1.52% or 0.90 to $59.99 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 1.29% or 0.80 to hit $62.95 a barrel, while the June Gold Futures contract fell 0.74% or 25.36 to trade at $3,397.44 a troy ounce.
WTICOUSD If you are new to trading and struggling to know what side of the market you are on. I created the Volume + RSI indicator using Chat GPT. It uses WMA. Now all indicators like this is lagging. But it is a good test to see where you are. If you understand Supply and Demand zones, S&R points, then you can overlay the two. With Fibs to give you an idea on where you are in the drop or bull run. The tools are there, you just have to know how to create your rules to build a functional strategy. If we cross, drop below, test my indicator, then we will continue the bearish move.
WTICOUSD if anyone has had a herniated disc. My word I feel for them, the one thing I want to do is rest.. but laying on your back is discouraged as it makes the pain worse. Anyhow... when all the news agencies are shouting buy, they are usually late to the party or they are encouraging people to enter the market in order to drive liquidity towards where they want it to be. It is a long considered a tactic that is often spoken of in forums. $60.40 on WTI has been a strong resistance point following the first big fall. Remember the Saudi announcement? Price is now closed back below London open, which barely resisted the move. Therefore to confirm if this is reversal, we must wait for price to test London open and fall further. Same thinking on NY. Always trade within your means and maintain a good stop loss strategy.