Please make sure to read the "update" comment as there will be changes along the way.
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There are few scenearios that I can think off and this is one 'most' possible outcome that I can think off. I can be wrong too.
We are 'currently' in the strong down mode and it is definitely to early to go long, we shouldn't going long unless there is strong bullish D1 candle to support our view.
I expect $61.7 region will act as a decent support and I suggest you to wait patiently first if you want to long.
All the best.
Crude Oil (WTI) is going as per plan.
First, it is getting supported near $61 regions and we need to make sure the supporting candles to appear.
Once it is firm, we can expect the rise UP toward $63.90 level
Be careful, if you have a short position.
All the best.
Curde is "NOT" bouncing from the support of $61 as expected.
So, DO NOT LONG, as long as there are 2 things happen.
1. Price roses above $61.5
2. We have strong BULL candle appear.
Until then, I am not buying in.
If you have a short, do not widen you SL.
DYODD, all the best and read the disclaimer too.
Our previous trade analysis didn't turn out well.
So, do not still keen to follow us?
But to us, getting wrong is part of the game. No one can predict with 100% accuracy.
We are dealing with a probability.
Next, I am expecting $52 region is kind of oversold and I do not suggest you to sell anymore. Instead, you can buy in and it can go to $56 as a quick TP.