#CRUDEOIL - LONG IF CRUDE HOLDS ABOVE $41 RESISTANCE ZONE
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Crudeoil bounced from the middle of the trading range after the rejection from the $41 gap zone and since then has again rallied back to the top of the trading range.
The top of the range - $40.45 has been tested quite a few times and there is a higher possibility of it breaking on the next few re-tests.
It the top of the range breaks then the $41 region would again act as resistance from where Crude saw good selling pressure previously.
A break and hold above the $41 region could lead to a good upside move in crude oil so we can long that zone if crude holds above that region.
Also, have a view ready for the short scenario as there can be a good number of sellers waiting to short crude from that zone, and in that case, we would need to exit longs or reverse your position to short if you want to take that chance.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
DAILY RSI
CRUDEOIL - 58 (neutral zone)
If you don't have time to do it right, when will you have time to do it over? John Wooden.
Before you start reading kindly hit that like button and follow. It motivates me to keep doing such work for free.
Thanks
Crudeoil bounced from the middle of the trading range after the rejection from the $41 gap zone and since then has again rallied back to the top of the trading range.
The top of the range - $40.45 has been tested quite a few times and there is a higher possibility of it breaking on the next few re-tests.
It the top of the range breaks then the $41 region would again act as resistance from where Crude saw good selling pressure previously.
A break and hold above the $41 region could lead to a good upside move in crude oil so we can long that zone if crude holds above that region.
Also, have a view ready for the short scenario as there can be a good number of sellers waiting to short crude from that zone, and in that case, we would need to exit longs or reverse your position to short if you want to take that chance.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
DAILY RSI
CRUDEOIL - 58 (neutral zone)
If you don't have time to do it right, when will you have time to do it over? John Wooden.
Uwaga
Retest taking place currently.
Wait for direction if not already in position.
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.