This is only my prediction, I advised you to do your own. Trading is risky, so please do not take this, as giving you advice about a potential trade setup. So, as always I PERSONALLY start from the Monthly, Weekly, 4hr TIMEFRAMES to get a better view of what's really going on. Right now OIL is at a key SUPPORT LEVEL. So, many may have reasons to go LONG, which I don't disagree BUT I just feel, it will be too soon. WHY? well, if it's an obvious level of SUPPORT, that has been tested multiple times before, I feel that it will be BROKEN. Simply because there's other levels below it, with less amount of touches for one. Secondly, if everyone is stuck on putting in LONG orders at the obvious, you really think there wont be manipulations that play out first before the push back up? Personally, I will be looking for LONG entries at the support levels that are labled Entry 1-3. That's a better risk to reward for me. Wish everyone luck this coming week in the market with this.
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