Oil is still respecting a broader downtrend structure with consistent lower highs and lower lows. Price recently reacted from the $62–63 resistance zone (trendline + supply) confirming another lower high and maintaining bearish momentum. As long as oil stays below this zone the chart suggests a continuation toward the downside with next supports sitting near $56.30, $52.50 and potentially $50.00 if bearish pressure accelerates.
Only a clean breakout above $63 with strong candles would invalidate this bearish outlook and shift momentum toward the $66–70 zone.
🔻 Sell Setup 1
- Entry Zone: 62.00 – 63.00
- Stop Loss: 63.80
- Targets: TP1 59.00, TP2 56.30, TP3 52.50
🔻 Sell Setup 2
- Entry: Break below 57.50 and retest
- Stop Loss: 59.20
- Targets: TP1 56.30, TP2 52.50, TP3 50.00
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Only a clean breakout above $63 with strong candles would invalidate this bearish outlook and shift momentum toward the $66–70 zone.
🔻 Sell Setup 1
- Entry Zone: 62.00 – 63.00
- Stop Loss: 63.80
- Targets: TP1 59.00, TP2 56.30, TP3 52.50
🔻 Sell Setup 2
- Entry: Break below 57.50 and retest
- Stop Loss: 59.20
- Targets: TP1 56.30, TP2 52.50, TP3 50.00
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
