Crude Oil is at Support. Though we see a Rejection at the Support the current strength of Trend is more to the negative side.
We got the Kumo Breakout and Market has already broken second bearish fractal which shows the signs of bearishness.
Based Elements theory the Trend is biased based on TK Cross.
So though Crude is at Support right now. I expect it to fall more to reach the Target level.
The Stop loss is bit on higher side since market has tendency to move up and hit KS.
Good Stop is above Bullish fractal. If we break bull fractal then Market structure will break and it won't be bearish.
Good Luck and God Bless
We got the Kumo Breakout and Market has already broken second bearish fractal which shows the signs of bearishness.
Based Elements theory the Trend is biased based on TK Cross.
So though Crude is at Support right now. I expect it to fall more to reach the Target level.
The Stop loss is bit on higher side since market has tendency to move up and hit KS.
Good Stop is above Bullish fractal. If we break bull fractal then Market structure will break and it won't be bearish.
Good Luck and God Bless