Potential Long for Oil - read the description
Updated
we have entered a correction to the current Bear move. and though I am not trading Light, but this is what I see - we had pierced trough the strong support level (green rectangle ) on a third touch (a bit early)and should test it once again to "ensure" it holds. and if it does we may see 56-abouts (yellow) or even 57.5-58 (red) for light
Note
we have got to the bottom of green level, good place to long with a short stops3.amazonaws.com/tradingview/snapshots/8/8DG4vv4X.png
Trade active
The green level had held the selling pressure - should see more long in Light towards yellow (likely to be cut straight through it) and redTrade active
we are just before the breakout!Trade active
as was expected - we had cut through the yellow levelTrade active
Need to return to 55.3 abouts for further climbing up, potentially on API -EIA statisticsTrade active
the Red level was touched! - this means to me that the idea is completed!aat the same time, as API data was released we had started moving towards the lower bound of the yellow level (55.3), depending on the EU action it might be tested during EIA and leaving there a 2h shadow or, cause more of a slow testing with subsequent return for further price movement to the North
Trade active
we have entered the yellow zone, should go to the lower end of it
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.