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PradeepRajput
Jan 20, 2023 6:10 AM

Crude Oil - Lets Wait for a Direction 

Crude Oil FuturesNYMEX

Description

Crude Oil. Bearish Case :-
Narrow Weekly Bar. Weekly MA Resistance. Daily RSI Resistance Zone. Weekly TL Resistance
Bullish Case :
COT reports JUST Started turning Bullish. Bullish Daily and Weekly Momentum.
So overall scenario is still confusing.
Ideal case will be to attempt ONE more Leg down and then UP. But, that is not a necessity. So waiting for a concrete resolution of direction.
Daily Close above 81.25 may be helpful for bullish case
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