CL1!
intraday mapping/analysis. Crude Oil Futures finding support on Golden Pocket + lower range of descending parallel channel (white dashed) confluence zone after flat bottom break, while hovering above lower range of ascending parallel channel (green) + 66% Fib confluence.
- Price action accumulating while digesting recent sell-off
- Bias leaning towards bullish reversal to re-test break aka "return to scene of crime", TBC
- Heavy confluence zone(s) underneath to keep price elevated (unless wrecked by major economic/geopolitical news catalyst)
- Breakout above accumulation to validate bullish reversal &/or tap parallel channel (green) + 66% Fib confluence & rip back up to trigger fake dump/liquidity grab
- Eyes on US Yields for correlation (linked via Related Ideas)
Set alerts - wait for trade to setup - hyper-awareness for potential oil manipulation by either OPEC+ or US (SPR refill narrative)
