USOil | New perspective for the week

I am of the opinion that natural gas shortages this winter might be driving gas prices higher in the last quarter of this year. The current structure reveals that price action is back to retest the bullish trendline identified on the weekly time - an area which shares a confluence with the $85 key level. In this video, I have explained what my expectations for the new week are.

Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

Trade active:

Despite considering a bullish expectation after considering the long-term bullish perspective on the high timeframe; the current structure suggests that the bearish trendline could be respected one more time hence a possible short-term selling opportunity is imminent in anticipation of that bullish move. So, a breakdown/retest of $89.50 level on a lower time frame could be a sell signal. Lets see what happen in the next couple of hours

Good morning

Trade active:

A Bullish signal established

Trade closed: stop reached:

Stopped out as the retest of $89.50 level failed to hold buying attempt. Hence, I am seeing this engulfing move that broke down the bullish trendline on a higher timeframe as a bearish signal hereby reverting to the selling bias shared earlier.

Let's see if we are going to witness a retest of structure to join the decline.

Comment:

Will this turn out to be an engulfing bullish candle? I am patient to see how price action plays out in the next couple of hours before making a decision.

Comment:

structures in lower time frame will help here

Trade active:

The current structure on 15 min timeframe supports selling opportunities below $89.50 area

Comment:

Monitoring price action as I want to see how price will react to the $92 level on the 4H timeframe

Good morning

Trade active:

We have a bullish signal as price breaks the $92 level

Trade active:

Just as projected

Trade active:

Bullish trendline continues to guide price action to the upside

Good morning

Trade active:

400pips running in profit. Things appear to be looking good as long as price action continues to respect the bullish trendline.

Comment:

readjusted entry

Trade active:

Sharp rejection of the $92 level by the buyers. Will there be a reversal pattern on the lower timeframe to join the potential rally before the weekends?

Trade active:

Reversal pattern supporting bullish momentum was identified in the lower timeframe. Be on standy