Wtiusdlong
WTIUSD| USOil ON A BULLISH ASSIGNMENT US oil finally repriced to go higher...
Confluences:
A sweep of liquidity below a weekly low
smartmoney Trapping retail bullish orders on the weekly with a failure swing
expansion to the upside creating a bullish mss / smartmoney institutional price swing/ Bullish Open float
Price traded I to the discount of the price swing and expanded to create equal highs.
smart money traded lower to trapped retail resistance traders
The smartmoney engineered liquidity below a short term low to take the price higher to a HTF premium array which is the draw on liquidity highlighted in the chart above.
Expectation :
Us oils will be price higher by the smart money to draw to the draw on liquidity.
Conclusion :
we have a bullish bias for this week and beyond
Crude Oil Sell Setup and confirmationCrude Oil has already ended up with its bullish movement and made a breakout in both D1 and H4 time frame. now Its ready for the downtrend journey. The price already broke the support and also retested the support.
We are expecting down trend now unless any fundamental news comes. Few weeks before EU put ban on Russian OIL and Few other fundamental news released as well. For that reason, OIL was sky rocketed and now market is getting stable.
Technical Analysis:
In 17th June, market was closed at price 110.40. from the cloud breaking strategy, we can see it started to create down-trend. Again, 110-110.40 was working as one of the strongest support for OIL and a successful breakout can lead oil till 106.02 and 99.26.
Signals:
Crude OIL
SELL from 110.00
SL# 113.13
TP# 106.00