Good morning/good afternoon TradingView community.
Today's video idea is focused on oil as we saw a solid reversal yesterday sellers did their best to get a new leg lower going. Buyers not only stopped the run but put in a solid reversal bar that finished above the 50% point of the previous lower bar.
This action has us thinking, could this be the start of a new trend continuation? We are watching to see if buyers can break yesterday's high. A break could be the starting point of confirmation of this idea. The MA and CCi both support further buying, but we really want to see yesterday's high beaten to show that buyers retain momentum.
Please check out our video for more detail on our trade idea.
Good trading. We hope everyone has a great weekend.
Today's video idea is focused on oil as we saw a solid reversal yesterday sellers did their best to get a new leg lower going. Buyers not only stopped the run but put in a solid reversal bar that finished above the 50% point of the previous lower bar.
This action has us thinking, could this be the start of a new trend continuation? We are watching to see if buyers can break yesterday's high. A break could be the starting point of confirmation of this idea. The MA and CCi both support further buying, but we really want to see yesterday's high beaten to show that buyers retain momentum.
Please check out our video for more detail on our trade idea.
Good trading. We hope everyone has a great weekend.