crude oil new update
Updated
(previously even after the breakout we avoided to o=go long)
the recent pullback is the reaction of higher time frame inducement where price made a imbalance and didnt retest the resistance zone
so there 7195 - 7065 will act as short term support and it is also a fair value area from higher time frame
either price will retest this zone and then head towards 8000-8300 level
price tried to retest the zone twice but couldnt mitigated the area
still the area hold major buying interest because it has created a liqudity of new fresh long stop losses underneath
THIS IS JUST ANALYSIS, YET NO CLEAR PICTURE TO INITATE A TRADE
the recent pullback is the reaction of higher time frame inducement where price made a imbalance and didnt retest the resistance zone
so there 7195 - 7065 will act as short term support and it is also a fair value area from higher time frame
either price will retest this zone and then head towards 8000-8300 level
price tried to retest the zone twice but couldnt mitigated the area
still the area hold major buying interest because it has created a liqudity of new fresh long stop losses underneath
THIS IS JUST ANALYSIS, YET NO CLEAR PICTURE TO INITATE A TRADE
Note
oil stuck in 7300 - 7600 range this to zone to avoid trading in it can lead to both ways destuctionsNote
STILL NO IN FAVOUR TO GO LONGNote
as predicted swept buyer liquid on breakout and now falling back to 7200-7000 lvlsNote
price was volatile and triggered short and long both sl and now moving further downside check new update
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