AhFarouk

USOIL (01/03/22) - (Expectations)

TVC:USOIL   CFDs on WTI Crude Oil
The price is fluctuating inside the major (red) resistant zone @ 76.8% level as long term bulls hope to push the price over the 100% level to collect the maximum profits (creating a new LH point) since they succeeded to hold the prices inside the resistant zone before closure yesterday.

For safe trading the entry point to be after existing the 61.8% level @ price greater than $94.66 or inside the supporting zone (in case of strong down trend) @ $93.xx.

Political circumstances still having the big hand in controlling the market between extremes.

Tools used in analysis are BB indicator, ZigZag ++, Fib pattern, and EMA10 indicator.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.