VasilyPonomarev

Crude Oil (WTI): When to Expect Bearish Wave???

Short
FX:USOIL   CFDs on Crude Oil (WTI)

I guess we can not deny that oil returned back to its "normal prices".
I am so surprised by how quickly the market managed to recover, though lockdowns and restrictions still continue.

I guess market participants on oil are TOO optimistic. And the optimism will inevitably lead to a correction.

On a weekly, I have identified a major resistance cluster.
That structure is based on a falling trend line and a horizontal resistance.

Most likely a pullback will be initiated from that zone. So be very careful buying and instead, look for opportunities to sell.

Can we expect a bearish wave on oil?
What is your view?

Please, support this idea with like
Thank you!

Comments

My view is if your using zones on a candle stick chart for Crude Oil, you have absolutely no idea as to what your talking about.

Maybe learn how a futures market works.

Maybe learn how to do proper analysis outside of a candlestick chart.

Then I guess you might actually know what your talking about.
+1 Reply
Can we expect a bearish wave on oil?
What is your view?
+1 Reply
👌👌👌🖒🖒
Reply
this is my analysis
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@abel11, good outlook!
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hi, interesting view and chart, thank you
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VasilyPonomarev MartinSchnellmann
@MartinSchnellmann, thank you buddy!!!
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Hi Vasily, it seems you're doing allright viewing Weekly on USOIL, while my view on Weekly is distorted by negative value on oil crash. I wonder what the setting you put on the tradingview. thanks
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Good luck buddy
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VasilyPonomarev DACapitalTrading
@DACapitalTrading, thank you bro)))
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