on DAILY: OIL is currently sitting around a strong resistance zone in green and almost filled the previous gap so we will be looking for objective sell setups on lower timeframes.
on H1: OIL is trading inside a wedge pattern (not valid yet) so we are waiting for a new swing to form around our lower red trendline to consider it objective and enter on its break downward.
or we are waiting for the right shoulder to form and then enter on the head and shoulders neckline break downward.
meanwhile, OIL would be overall bullish.
on H1: OIL is trading inside a wedge pattern (not valid yet) so we are waiting for a new swing to form around our lower red trendline to consider it objective and enter on its break downward.
or we are waiting for the right shoulder to form and then enter on the head and shoulders neckline break downward.
meanwhile, OIL would be overall bullish.