Crude Oil Analysis Week 18-22/2/2019
Long Bias
At Monthly Chart; a demand zone in control with a very strong monthly bullish engulfing
At weekly chart; Demand zone is formed with several ERC candles & 2 bullish engulfing, aggressive longs all the way to the weekly supply zone (74.040 - 78.314)
At Daily Chart; a new Daily Demand Zone has been formed after the price broke the opposing Supply Zone (53.520 - 55.911), Potential longs at the Daily Demand Zone ( 52.805 - 51.124)
Long Bias
At Monthly Chart; a demand zone in control with a very strong monthly bullish engulfing
At weekly chart; Demand zone is formed with several ERC candles & 2 bullish engulfing, aggressive longs all the way to the weekly supply zone (74.040 - 78.314)
At Daily Chart; a new Daily Demand Zone has been formed after the price broke the opposing Supply Zone (53.520 - 55.911), Potential longs at the Daily Demand Zone ( 52.805 - 51.124)