Could be getting some rejection from this Daily Triangle on USOIL. Getting Confluence with Supply/Demand Zone Analysis
And lower timeframe Market Structure
If price can stay below 60.93 our first realistic targets for a short day would be around 59.90 at the bottom of the Supply zone that its currently dropping through.
And lower timeframe Market Structure
If price can stay below 60.93 our first realistic targets for a short day would be around 59.90 at the bottom of the Supply zone that its currently dropping through.
Note
Potentially in an area to get short here if price rejects 60.93
Note
Last chance? Need a rejection under Daily MA...Note
Buyers were fighting there for a minute eventually bears took over.Note
Breakage above 60.93, trade invalidated for the time being
Note
Just in time too, could've taken a quick long here as this was a pivot point for the marketNote
Just a day early!
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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.