BryceWH

Crude Oil Liquidity Study - NEUTRAL

FX:USOIL   Crude Oil (WTI)
I thought i would chart out this study and show how previous highs and lows in the crude oil             market can act as liquidity pockets for reactions and possible reversals.

Highlighted in blue are previous levels where you could expect traders to place their stops. From these stops we have seen numerous reactions in the past.

Crude oil             has shown on the weekly and monthly chart to be in a contracting range, so liquidity has an increased importance for this market.

I have shown the rising long term bullish channel , and at the moment we are in the bottom part of that range.

Due to time symmetry of this lowest channel and this increased liquidity, i think it could be possible to see a return to a bullish scenario over the next few weeks.

With a break of bearish market structure as confirmation, i would then begin looking for buying opportunities and bullish day trades.

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out