Crude Oil Eating Up Time - Plate almost empty

18 gru 2024

Price bounced many times at the Green Support-Zone. It's the same level where the Huge Pendulums Fork Center-Line is (white-dashed).

Next, we have the Yellow Fork.
Price traded outside the L-MLH, bounced a couple times at the Support-Zone and eat up time.

But now, I think the "Plate" is almost empty.
Why? Price arrived at a decision point, a confluence point. This confluence point is where the Warning-Line and Price intersect.

To me, a Long Trade is more likely than a Short.
- world wide tensions
- so many bounces at the Support-Zone, they won't let price go down much
- price has not re-tested the L-MLH of the Yellow Pitchfork

As this is a very long term play, it's obvious that this Chart/Idea would serve to build a position, rather than using it as a simple trade.

31 gru 2024

Zlecenie aktywne

On the Daily it starts to gain momentum: