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USOil | New perspective for the week

已更新

I am of the opinion that natural gas shortages this winter might be driving gas prices higher in the last quarter of this year. The current structure reveals that price action is back to retest the bullish trendline identified on the weekly time - an area which shares a confluence with the $85 key level. In this video, I have explained what my expectations for the new week are.

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交易進行

Despite considering a bullish expectation after considering the long-term bullish perspective on the high timeframe; the current structure suggests that the bearish trendline could be respected one more time hence a possible short-term selling opportunity is imminent in anticipation of that bullish move. So, a breakdown/retest of $89.50 level on a lower time frame could be a sell signal. Lets see what happen in the next couple of hours

Good morning

交易進行

A Bullish signal established

交易結束：達到停損點

Stopped out as the retest of $89.50 level failed to hold buying attempt. Hence, I am seeing this engulfing move that broke down the bullish trendline on a higher timeframe as a bearish signal hereby reverting to the selling bias shared earlier.

Let's see if we are going to witness a retest of structure to join the decline.

註釋

Will this turn out to be an engulfing bullish candle? I am patient to see how price action plays out in the next couple of hours before making a decision.

註釋

structures in lower time frame will help here

交易進行

The current structure on 15 min timeframe supports selling opportunities below $89.50 area

註釋

Monitoring price action as I want to see how price will react to the $92 level on the 4H timeframe

Good morning

交易進行

We have a bullish signal as price breaks the $92 level

交易進行

Just as projected

交易進行

Bullish trendline continues to guide price action to the upside

Good morning

交易進行

400pips running in profit. Things appear to be looking good as long as price action continues to respect the bullish trendline.

註釋

readjusted entry

交易進行

Sharp rejection of the $92 level by the buyers. Will there be a reversal pattern on the lower timeframe to join the potential rally before the weekends?