JaimePantoja

Long scenario for USOIL

TVC:USOIL   WTI Crude Oil
So far the price has been unable to keep pushing lower to the downside, see the failure around the 43 level, therefore for the next week if the price is unable to go around the 43 again, and a Higher Low is formed, then in a lower time frame look for long set ups in order to play a possible movement to the upside.
Comment: So far the price has been unable to test the LSL area around the 42 USD, instead the price fits its action for the last days within a narrow range, where is possible to identify overlapping of several sesions, factor that gives clues that at this point in the time sellers and buyers seem to be in equilibrium , in any case the ideas is still valid ... lets see how the price action evolves in the next days
Comment: So far the price has broken the most inmmediate downtrendline, and is going to test the 49 level, if there are followers to the upside is likely that the market go to test the 52 area if not then a we could be facing a larger consolidation

snapshot
Comment: Right now the price has approached to the preliminar resistance area of the 49 USD, therefore for the next sesions is recomended to look the price action in lower timeframes in order to look for trading opportunities.

snapshot
Comment: Right now the price has already broken the Preliminar resistance around the 49 level. So for now lets see if the buyers have enought strength in order to test otr break the 52 area
JaimePantoja MindTrader
Thanks for sharing your point of view :)
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MindTrader JaimePantoja
welcome brother.
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