Ideia for movement of oil for next weeks.
With a pretty bearish scenario, bearish moves on oil are slowing down and forming big pinbars on the same Support area. Im expecting oil to drop a little bit more until reach a big monthly Support where it can find strength (aka Enough sell orders trapped) for the real move of pushing oil to Higher levels.
Lets keep track of this...
Wait for the price to hit our range before we look into a Double bottom in 50 ~ 51 region in a lower timeframe.
With a pretty bearish scenario, bearish moves on oil are slowing down and forming big pinbars on the same Support area. Im expecting oil to drop a little bit more until reach a big monthly Support where it can find strength (aka Enough sell orders trapped) for the real move of pushing oil to Higher levels.
Lets keep track of this...
Wait for the price to hit our range before we look into a Double bottom in 50 ~ 51 region in a lower timeframe.