Hello everyone. Crude oil has been really volatile since Feb mainly due to the supply issues.
Price has been retreated from the high created on March 7th by almost 30%. It formed a triangle shape with solid demand zone(92-94.81) being tested twice.
From the daily chart, we can see crude oil is at the crossroad. One possible scenario is the sideway move between the range of $92-$105.
What do you think? Feel free to share your thoughts below.
Price has been retreated from the high created on March 7th by almost 30%. It formed a triangle shape with solid demand zone(92-94.81) being tested twice.
From the daily chart, we can see crude oil is at the crossroad. One possible scenario is the sideway move between the range of $92-$105.
What do you think? Feel free to share your thoughts below.
Note
Triangle has been violated 
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plan your trade and trade your plan
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.