USOIL long term projection

FX:USOIL   CFDs on Crude Oil (WTI)
273 4 6
  • Liquidity pools = green crosses
  • Price could continue drastic drop down because of lack of bullish orderblocks. The only possible bullish orderblock is at 36.6 - 37.10
  • Daily directional premise is bearish as price left a large void slightly under the monthly support
  • Weekly directional premise is still bullish
  • Liquidity options are only really attractive on the downside
dude you are too much bearish on this. i agree fundamentals not supporting but still oil cant go back below 35. just look at all the squeeze and buying when it hit 35. Personallyi feel at 37 it will take u turn. Lets see.
Steven_Maas LetsBeMillionaire
Hi JigneshRathod, Thanks for the input! Well I didn't mention any fundamentals at all nor do I value the 'news' in my analysis. I'm only look at this on a technical basis and this, as far as my TA experience allows me to, is the endresult. Maybe I wasn't too clear about that but, IF at all a u-turn is about to happen like you say; indeed the only possible area I think it can happen is probably the 36-37 area indeed.
saif12 Steven_Maas
Congrats for your analysis
Thanks Saif12, very kind of you.
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