A Retest of the Support on Crude Oil by ThinkingAnts

NYMEX:CL1!   Light Crude Oil Futures
Main items we can see on the chart:

a) From the Contracts going to negative territory in April, we saw a huge reversal movement

b) Currently, the price is moving between 40 and 35 US Dollars a barrel

c) Based on the Support zone the price is on, we are waiting for a retest of it, as the first corrective Structure

d) If that happens we will have a clear correction ( ABC Pattern) supported by a major zone

e) That will provide us with a high-quality scenario to look for long setups towards the next resistance zone .
Thinking Ants.
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