FX:USOIL   CFDs on Crude Oil (WTI)
221 6 14
Price needs to break supply to move higher. A break in its support below to move price higher will cause a domino effect of testing supports below - price is trying to reach 57.91 where price broke low. I suspect a retrace to lowest support at 39.99 before attempting to reach target above
https://www.youtube.com/watch?v=3BE0D9geu2o

Related Ideas

Very nice charts Kate, I am a big fan of simple S/R and cluster recognition. No sign of a reversal yet but I am very biased towards a repeat range/breakdown similar to that of last year. On a break higher 56.51 is a magnet that wants to be touched. Thank you for your analysis!
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smitheric1970 smitheric1970
At this point my chart is a very biased and only a potential at this time as again, there is no sign of reversal yet; based on previous distribution at this level.
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kate25 smitheric1970
You are correct there is no reversal yet and price may not favor my chart come sunday. Nice chart smitheric1970
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