Top and Bottom analysis on US OIL by ThinkingAntsOk
Use this as a Guide to support or discard your own vision of the chart
Main items we see on the 4hs chart:
a) a bull trap has been made on the higher trendline of the descending channel (dot lines), we can see a Huge rejection candlestick, giving us a Bearish Signal
b)Based on the previous Behavior we saw on that channel, we should expect a retest of the lower trendline
c)If the price Re-enter to the descending channel (solid line) that would be a really important bearish Signal, to pay attention to the breakout of the Current structure
d)Currently, we are not taking any setup on this asset, we will wait to see the inner resolution of this structure.
Weekly Vision:
Daily Vision:
Main items we see on the 4hs chart:
a) a bull trap has been made on the higher trendline of the descending channel (dot lines), we can see a Huge rejection candlestick, giving us a Bearish Signal
b)Based on the previous Behavior we saw on that channel, we should expect a retest of the lower trendline
c)If the price Re-enter to the descending channel (solid line) that would be a really important bearish Signal, to pay attention to the breakout of the Current structure
d)Currently, we are not taking any setup on this asset, we will wait to see the inner resolution of this structure.
Weekly Vision:
Daily Vision: