Crude Oil Futures ~ November TA Outlook (4H Intraday)NYMEX:CL1! chart mapping/analysis.
Note: TradingView chart B-ADJ adjusted for contract changes
Crude Oil Futures capitulating from early October rally despite ongoing Middle East tensions & geopolitical uncertainty.
Only macroeconomic narrative/headwind that would override war escalations is increasing probability of global recession-induced demand destruction, IMO.
Notes:
Flat bottom pattern development = bias towards bearish price action, TBC.
Crude Oil = highly manipulated trade with ongoing short-risk from Saudi Arabia &/or Russian market intervention - trade at your own risk to capital.