WTI Oil has indeed finished its second leg and retracted back to a significant order block zone.
This is often a signal for potential accumulation before another ascent.
Based on current patterns, it's poised to climb back up towards the previous decline pivot, setting up an interesting play for those watching the oil markets.
This is often a signal for potential accumulation before another ascent.
Based on current patterns, it's poised to climb back up towards the previous decline pivot, setting up an interesting play for those watching the oil markets.
Trade closed: target reached:
The geopolitical tensions between Israel and Iran have indeed added volatility to the oil markets, acting as catalysts in the ongoing trends. It's always rewarding when technical analysis and market strategies align perfectly with unfolding global events, leading to successful trades. Kudos to those who capitalized on this movement by following the price action cues and reaching the $84.5 target in oil!
Comment:
Indeed, by deciphering market cycles and key zones, you can navigate the markets more effectively. Oil remains within the trading range bounded by the previously mentioned zones.
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