USCRUDEOILCFD Go for 6236 👍🏻Spot WTI Crude Oil forum
USCRUDEOILCFD Go for 6236 👍🏻
OILUSD rejected at 60.17 on the 4hr Just entered a short
WTI Asia gonna retrace!
USOIL 🟢Support: 58.58
🟠Pivot: 59.40
🔴Resistance: 61.04
Currently above pivot so bias is bullish.
Tomorrow’s session could be similar to todays. Testing 61.04 resistance. With possible short opportunities up there. Can’t tell until further confirmation
Risks to watch out for ⚠️
🟢🟢Bullish rally to 61.04 and closing above triggers 61.50 “EMA 50” and 61.99. Any bullish catalysts will allow swing high 63.17 as an extension
🔴🔴Bearish rejection of 61.04 resistance would trigger a direct fall to 59.40 pivot and any bearish catalyst would trigger a deeper retracement to 58.58 support.
Trade safe 📈📈
OILUSD holding surport nicely at 60.17 🚀
USOIL Last Call for the New York Session:On the Daily, the bullish candle made the valiant effort to form a Bullish Engulfing pattern. It was so, so close by a thin hair. The high of the bullish candle is higher than the previous candle's high (circled in red).
So, we're likely to see more moves to the upside. And this bullish candle is a trending candle for having its real body (that creates the open and close prices) being more than 50% of the width of the candle). If it was a non-trending candle, I'd be concerned.
OILUSD Nice 🚀💵🚀💵🚀
USOIL how can you know that it is a true breakout not a fake one? 1. Steady movement towards resistance, not a couple of big candles
2. Increase in volume
3. A pause of the market before the true breakout
P.S. On lower time frames the bullish flag has broken, now it will create the pattern known as a bullish pennant.
Greetings to the ones that don't trade patterns.
OIL_CRUDE Oil potential Hit 65 next week.🚀🚀🚀USOIL New Development:Through hours of consolidation, a very thin S&R Zone formed. The candles are also moving within an Inside Day pattern for a market pause (as shown with two orange, horizontal lines).
The bulls can rise above the S&R Zone to break out of the Inside Day's high at 59.97, then breach the Swing High at 60.22 to go higher OR the bears can drop from the S&R Zone to break out of the Inside Day's low at 59.41 and go lower for the retracement.
