Will there be a false breakdown WTI ? H4 20.08.2024
Oil is in an interesting situation right now. Initially I was waiting for repositioning to buy, however the price went lower. As a result, I closed my purchases on be and now the question is whether or not there will be a false breakdown of the support zone 71.30-72.40. The poured volume in the margin at 73.50 did not give a buyback reaction, but oil moves very insidiously. It could do a false breakdown and then come back on volumes and form a delayed culmination. In any case, the rebound is somewhere near, so watch carefully.
Oil is in an interesting situation right now. Initially I was waiting for repositioning to buy, however the price went lower. As a result, I closed my purchases on be and now the question is whether or not there will be a false breakdown of the support zone 71.30-72.40. The poured volume in the margin at 73.50 did not give a buyback reaction, but oil moves very insidiously. It could do a false breakdown and then come back on volumes and form a delayed culmination. In any case, the rebound is somewhere near, so watch carefully.
Trade active
Starting to work out the analysis of WTIOn oil, the price has beautifully seen the support zone 71.10-72.40 from which the reaction upwards was given. Now the pattern Repositioning is forming and the buyers zone is ready. I expect continuation of growth with possible corrections to the margin 77.40-77.95 and higher. In general, I believe that oil has a good growth potential and a beautiful false takeout was made below.
Trade active
Oil has now approached the marginal resistance zone 77.41-77.97, Large point volumes have appeared in the zone and may mean fixation of purchases and the beginning of accumulation of corrective sales.That's why yesterday at 77.40 I closed 50% of buys and I'm still in the waiting mode
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FOREX|СМЕ - t.me/newwavetrade
Crypto - t.me/kovachcrypto
Crypto - t.me/kovachcrypto
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.