CL1! Oil has returned to the level it left in Novembre 2014.
Hello world!
According to my technicale analysis, Oil has returned back to the level it left in November 2014, which is a very strong trading range.
We can also observe that oil is reaching the top of the Uptrend channel, which means that we may see a small correction in the next few days/weeks. It can go down to the red line (which is a strong market support) in the worst cases during the current global economic situation.
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RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results,tight stop loss.
Comment: We didn't break the "Support 1", but we had a very big rejection at that level with a big volume, which signifies a trend reversal.
However, it could be a fake rejection. As long as we are within the trading range, any decision can be risky.
According to my technicale analysis, Oil has returned back to the level it left in November 2014, which is a very strong trading range.
We can also observe that oil is reaching the top of the Uptrend channel, which means that we may see a small correction in the next few days/weeks. It can go down to the red line (which is a strong market support) in the worst cases during the current global economic situation.
Why get subbed to me on Tradingview?
* Professional chart break downs
* Supply/Demand Zones
* TD9 counts / combo review
* Key S/R levels
* No junk on my charts
* Frequent updates
* Before/after analysis
* 24/7 uptime so constant updates
🎁Please hit the like button and
🎁Leave a comment for support !
RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results,tight stop loss.
Comment: We didn't break the "Support 1", but we had a very big rejection at that level with a big volume, which signifies a trend reversal.
However, it could be a fake rejection. As long as we are within the trading range, any decision can be risky.
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.