What's up guys!
Another breakdown here, this time for US oil market.
As you can see from this breakdown, we have a clear area of demand that price is rejecting away from.
Based on this and where we stand in overall structure, I am expecting bullish movements to take us into the area of supply highlighted above. From that point, I am going to watch to see if the price is either going to hold there or breakthrough to continue higher.
Overall, I will be looking for longs into the supply in shorts away from the supply, but of course, we do not know fully if this area of demand below will hold. So I'll be looking for a short-term entry to go long. If we break the supply above and continue higher, I'll be targeting the triple top highlighted in green.
Worst case, we don't break through the area of supply and we continue going short, in that case, I'll start aiming for the low which is highlighted in red.
Another pretty simple breakdown. Overall, I'm looking forward to trading this pair this week as it shows lots of potential.
Remember guys, if you like this idea, hit that boost button. Drop us a comment down below. Let us know what you think.
As always guys trade safe, stick to your trading plan.
I hope you all have an amazing trading week.
Another breakdown here, this time for US oil market.
As you can see from this breakdown, we have a clear area of demand that price is rejecting away from.
Based on this and where we stand in overall structure, I am expecting bullish movements to take us into the area of supply highlighted above. From that point, I am going to watch to see if the price is either going to hold there or breakthrough to continue higher.
Overall, I will be looking for longs into the supply in shorts away from the supply, but of course, we do not know fully if this area of demand below will hold. So I'll be looking for a short-term entry to go long. If we break the supply above and continue higher, I'll be targeting the triple top highlighted in green.
Worst case, we don't break through the area of supply and we continue going short, in that case, I'll start aiming for the low which is highlighted in red.
Another pretty simple breakdown. Overall, I'm looking forward to trading this pair this week as it shows lots of potential.
Remember guys, if you like this idea, hit that boost button. Drop us a comment down below. Let us know what you think.
As always guys trade safe, stick to your trading plan.
I hope you all have an amazing trading week.
