Daily Analysis on Crude Oil (CL) by ThinkingAntsOk
Use this as a guide to develop your personal view of the chart.
Main items we can see on the Daily Chart:
a)Price made a vast reversal movement from a resistance zone, last week we developed a setup there (check related ideas)
b)Currently, the price is on the Daily support zone and, if we take a look at previous movements, we can see how price reacted there.
c)We will be waiting for similar formations as the previous one (inside the circles)
d)We expect a two weeks duration for that corrective movement on current levels.
e)From there, our main view will be short towards the next support zone, But we will also be paying attention to long opportunities in case the price reverse from there.
Main items we can see on the Daily Chart:
a)Price made a vast reversal movement from a resistance zone, last week we developed a setup there (check related ideas)
b)Currently, the price is on the Daily support zone and, if we take a look at previous movements, we can see how price reacted there.
c)We will be waiting for similar formations as the previous one (inside the circles)
d)We expect a two weeks duration for that corrective movement on current levels.
e)From there, our main view will be short towards the next support zone, But we will also be paying attention to long opportunities in case the price reverse from there.
