OIL(CL1!), BIG GUYS don't SELL! Does the oil crisis continue?
In our oil idea, we showed a big value zone $85-95 that was created on the chart! The price tested this zone as support and rebounded by 25%!
Also, a bullish signal is the low volumes at the local highs of $120-130. The big player has not made sales to retail traders. Perhaps the rise is not over yet.
We think that the price will consolidate under the trend line for some time and after that it will start to renew its highs. Of course we have to see volumes rise at the lows, as we saw last time. That will show the strength of the buyer.
There are too many changes in the global market at the moment: the war, the nuclear deal with Iran, which is not very good for the neighboring countries, the weakening of the dollar, the mass adoption of crypto, inflation.
How could this affect the price of oil? Write your thoughts in the comments!
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P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
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