USOIL Forensic Thoughts
Hello Traders!
Here I see a swing high has recently been broken.
This to me is perceived as bullish "momentum". I would expect to see price rally and break highs.
The next phase the market normally gives is a higher swing low if the trend is going higher.
Commercials are going to be buying in down closed days fooling retail traders to sell.
Eventually the net longs will increase enough to prevent price creating a lower swing low. Price will make a higher swing low launching price upward to keep trending bullish.
The next key moment to pay attention to is a higher swing low.
Odd are that the swing low will form in a pd array.
PD Arrays: Fair value gap or order block.
Price currently has been sitting on a monthly bullish order block. Time is just lining up and waiting in my opinion.
Here I see a swing high has recently been broken.
This to me is perceived as bullish "momentum". I would expect to see price rally and break highs.
The next phase the market normally gives is a higher swing low if the trend is going higher.
Commercials are going to be buying in down closed days fooling retail traders to sell.
Eventually the net longs will increase enough to prevent price creating a lower swing low. Price will make a higher swing low launching price upward to keep trending bullish.
The next key moment to pay attention to is a higher swing low.
Odd are that the swing low will form in a pd array.
PD Arrays: Fair value gap or order block.
Price currently has been sitting on a monthly bullish order block. Time is just lining up and waiting in my opinion.
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