Two consecutive weak candlesticks added to a bear trend & a rising wedge offer a short opportunity with good reward.
Crude is a good long on next dip. The downside momentum is waning & the support is close.
If it starts forming a bear flag, and getting close to resistance, we'll get a nice short opportunity with good risk to reward and good probability of success.
Bullish formation, breakout could yield big move
Seasonality points to higher price. Price action seems to be starting to base. Commercial activity starting to turn slowly bullish. I like a buy on next dip, offers good R/R & decent proba of success.
Likely to reverse lower this week after one last leg up.
Price likely to go lower this week after one last leg up.