💡 New CoT reports show a 1% increase in buyers' outperformance and a 2% increase in market volume. The nearest medium-term support level is the option week balance (63.00). In case of formation of a buy pattern near this option support level, we expect a further rise with an intermediate-term upside target, the balance of the day (65.00). ⚙️ The final benchmark of bullish movement during the new trading week is the market-maker's loss level (66.00), which is strengthened by a limit order on sale in volume of $9.5 mln. In case of breakdown and fixation during the first half of the new trading week below the balance of the week (63.00), we expect the implementation of an alternative scenario - decline to the hedger support zone (61.50), which is reinforced by the growth of positions on the rise in the volume of $18.9 mln. 🤔 Like the idea? 👍 like it ✍️ write a comment
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✍️ Crude Oil: The balance of the week will be tested today. ⭐️ The nearest support for today is the option balance of the week (63.00). In case of breakdown and fixation below the mentioned support level, we expect further decline to the limit buyer level (62.36). 📊 In case of formation of buying pattern near the price level of 62.36 we expect the subsequent rise with intraday targets,- Monday options balance (63.60) and hedge zone premium (64.73).
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📊 Crude Oil: jewel test of the week's option balance. ✅ Over the past 24 hours, the marketmaker's weekly balance indicated in yesterday's review (63.00) has been jeweled. 📌 By the end of the day the final upside target indicated yesterday - the premium level of the weekly hedge resistance zone (64.73) - was reached with a slight underperformance. In case of a successful test of the current Buy Limit (63.50) we expect a further rise with the targets of the day balance (64.50) and the Sell Limit (65.49).
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💡 Crude Oil: the market maker is already at a loss! 🌐 During the Asian trading session, crude oil quotations have consolidated above the market maker's loss initiation level (66.20). The main scenario for today is a successful test of the balance of the day (65.70) and a subsequent rise to the hedge zone premium level (67.06). ⚠️ In case of breakdown and fixation below the level of 65.70, we expect realization of the alternative scenario - decrease to the limit buyer (64.99).
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🔥 Crude Oil: the market maker has brought oil back to its comfort zone! ♻️ The nearest resistance for today is the limit seller (66.03). Subsequent important resistance is the marketmaker's loss level (66.30). 💠 If a sell pattern is formed in the price range of intraday resistance 66.03-66.30 we expect an impulsive decline with the ultimate target before the close of the day,- limit buyer (64.54).
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✍️ Crude Oil: reached limit buyer, will decline continue? 🔰 Over the past 24 hours, the hedger weekly resistance zone strike level (66.00) and the subsequent decline to the limit buyer level mentioned in yesterday's review (64.54) have been worked out with a slight underperformance. The nearest resistance for today is the limit seller (65.39). 👉 In case of formation of sell pattern near the price level of 65.39 we expect further decline with targets,- balance of the day (64.72) and limit buyer (64.33).
$62 first test, after below 62$ then $66 breaks next week. It will fall this week because India coronavirus
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Globally it don't look good for recovery. India with massive, never ever seen before, COVID-Cases! The EU has just decided that in 13 countries, that wanted to end the lockdown, the restrictions will be intact (minimum) the whole May, maybe June or longer! And last but not least, see actual CDC site: cdc.gov/coronavirus/2019-ncov/travelers/map-and-travel-notices.html