Oil is retesting a support (previously a resistance) and it's in a second attempt to break it.
However, it's also at a volume zone, meaning could be strong buying pressure. I'll be entering a long position there:
- Open position at 83.05
- SL 1 ATR below local low at 77.82
- TP at previos high at 123.34
- Squeeze finishing it's downward movement that has no strength from ADX
Fundamentally, I think is algo going up bc OPEC is halting extraction and other geopolitical news.
However, it's also at a volume zone, meaning could be strong buying pressure. I'll be entering a long position there:
- Open position at 83.05
- SL 1 ATR below local low at 77.82
- TP at previos high at 123.34
- Squeeze finishing it's downward movement that has no strength from ADX
Fundamentally, I think is algo going up bc OPEC is halting extraction and other geopolitical news.
Trade closed: stop reached:
USOIL Keeps going down. Reached SL