dwallacefx

crude oil - long

Long
TVC:USOIL   CFDs on WTI Crude Oil
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Here we can see price how the candlesticks are changing as price approaches the bullish trendline. These spinning top formations indicate buyers are moving into the market. Some traders may wait until price fully touches the trendline or the 71% retracement in order to take the trade but we can see that this area is also acting as a resistance (even though it has been depleted) for A. This coupled with price approaching the medium level demand zone (green box) could bring about the confidence for a trader to make the trade early.