Oil Buy Opportunity
Most recent bullish engulfing lets us know there's more buyers than sellers in the market currently. We've been trading between about $67 and $70 and that could possibly continue until the market makes its mind up. Overall bullish pair w/ M.A's up on the Monthly and Weekly and a potential cross to the upside could be in the works. 8 hour 3 pin pattern w/ 8EMA acting as support. 4 hour Morning Star formation off a 38.2% retracement closing above 8EMA. 1:1.4 R:R
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.