USOIL support has been respected for over a month I am bullish
WTI Oil Spot forum
USOIL support has been respected for over a month I am bullish
WTICOUSD The 4-Hour timeframe shows that the last two candles formed a Piercing Pattern, which is a bottom reversal pattern. But, it needs to be confirmed with another bullish candle for the market to go up. If it happens, then the bullish thrust will continue to around 68.319.*Alternative Scenario:
If a bearish candle forms, then the Piercing Pattern would be null and void, leading to a bear run.
USOIL come on us oil buyers.... start pupming
OIL_CRUDE for it to flip bearish again we must be under 65.65-65.55 🐻📉Being above that level increases the risk of another bullish leg targeting 66.5 again which is the 50% mark of the NWOG 📊📊
We failed to close above 66.50, however if we close above it this time we will test 67.20-67.50 📈🐂
If we close under 65.55-65.65 we will test support at 64.88 (last week’s low)
USOIL it's a Head and shoulder pattern in 4 hour it will break to reach 70$
WTI Who think its going back down
USOIL When you’ve been trading oil for 8 years, someone new comes along and says you’re “cackling” the Irony the only one who cackles on minds is you sir, you waffle everyday on here you don’t know which way your trades are going 🤣🤠🫵🏻 do you understand momentum ? If there is no trend on the asset you can look elsewhere and trade something else,something you should be familiar with instead of hitting SLs 🤡 Bears are still active not out of the woods yet
WTICOUSD On the Hourly that is in Bearish (directional) Market Bias, look how close the Bearish Trendline (in red dotted line) is. The very tall bullish candle stopped near the the midline of the previous, very tall bearish candle (shown on chart) that is part of a Resistance Zone.
If the candles consolidate to cross the trendline and go to its right side, then the market bias would flip from bearish to bullish.
*Alternative Scenario:
The bears drop down to retrace towards 66.484.
OIL_CRUDE I miss it when they were hiding in their dens vowing never to touch oil again 😂😂😂OIL_CRUDE when trend is bullish bears are so quiet and once it reverses they come and cackle 😂😂😂. Bulls stepped in today defending last week’s low… next obvious move is up… could it reverse back to bearish: definitely. Could it invalidate bearish and continue bullish momentum? Also likely.