Gap started closing and going well as economies around the globe slowly opening and OPEC+ cut production.
Now looking to add more longs inside the gap. Continuation on the break of small resistance near 38 area seems like a good spot to add, wait for it to break.
We could also retest broken levels on the pullback and wait for reverse patterns on smaller time frames to buy.
So far everything looks bullish, hope it stay that way!
Please support the idea and share your thoughts on WTI!
Good Luck and Stay Healthy!
Now looking to add more longs inside the gap. Continuation on the break of small resistance near 38 area seems like a good spot to add, wait for it to break.
We could also retest broken levels on the pullback and wait for reverse patterns on smaller time frames to buy.
So far everything looks bullish, hope it stay that way!
Please support the idea and share your thoughts on WTI!
Good Luck and Stay Healthy!
Comment:
This could be the retest based on the news. The dip is here for more buying opportunities.
Saudi Arabia and Russia are said to be reluctant to extend output cuts without more compliance from the rest of the pact, citing people briefed on OPEC+ negotiations. Adding that there won't be a meeting tomorrow unless this problem is addressed.