The price will play between 54.20$ and 42.30$ at this week.
As we see at positions A and B, the price first touches A1 (43.75$) than goes up till 54.20$ and after that arrived to A2 (43.75). We have same trend at B with tiny changes.
I prefer to buy at C2 (42.30)
Have good trades
We expect the EIA United States Crude Oil Stocks will be -2.782, the previous was -6.912 M.
Increase of US crude oil stocks can indicate a decrease in demand for crude oil or increase in production. Such an increase negatively affects global oils prices, though it is a short-term effect.
In the other hand, The price should fill the gap after the Aramco...
Last night I warned "DO NOT HURRY YO BUY" because the channel 54-56 and the black trend line
Less than 24 hours you see Why I told you that.
Any way I suggest you if you bought, please set your SL at your entry point or at 53$
1- The Price could test the last down trend line (Yellow). The uptrending channel (Blue) is not sure yet.
We took +470 pips in two days by this plan
The channel 54-56 is so busy so reduce your speed
The black lines will make you slow
Do not hurry to buy
Do not pay money to their VIP delusions
Have good trade
Last night I showed my thoughts and we took +290
What we have now?
1- The price will do like the AUG pattern and hit 54.0 (1-2)?
2- The price hit 56 (1-1) that is a strong support so buyers (the leaders have a lot of followers and likes just) decide to buy again and go to...
The price tested the Fibo level 127% (taregt 1) approximately that hit 19 AUG.
By new channel we can expect the price hit target 2 that is level 161% but seems reaching to the second target is very soon for now so the price need to pullback.
Have good trade