POTENTIAL LONG OPPORTUNITY ON CRUDE OIL (BCOUSD)
Hey everyone! Hope you're doing awesome! Just wanted to get on here and do a post on some potential upside I see here on Brent Crude Oil after today's price action!
SO as you can see price has had a hard time breaking past the lows of 81.50-82.00 price handle. Price came down into daily demand and tried breaking lower to downside but now for the 3rd time being rejected to the upside...with buyers buying up this price not allowing it to go lower. This leads me to believe that there could potentially be a upside move for the next move for Crude Oil. Obviously you can see on the 1D (DAILY) timeframe right now the market is overall bearish...but price has now failed to make that new LL showing me potential for an overall pullback on this commodity. ALSO if you look at the 1W (WEEKLY) timeframe you can see that price is actually creating subtle higher lows in price (buyers taking worse prices) which displays to me a demand for this product and a next likely move being to the upside.
On the hourly timeframes now you can see a shift to a bullish market which also gives the bias of the next move on this commodity being to the upside to upside supply around the $87 price point.
Hope this brough some value to you guys! Please boost this post and follow my page for more accurate analysis! Cheers!
SO as you can see price has had a hard time breaking past the lows of 81.50-82.00 price handle. Price came down into daily demand and tried breaking lower to downside but now for the 3rd time being rejected to the upside...with buyers buying up this price not allowing it to go lower. This leads me to believe that there could potentially be a upside move for the next move for Crude Oil. Obviously you can see on the 1D (DAILY) timeframe right now the market is overall bearish...but price has now failed to make that new LL showing me potential for an overall pullback on this commodity. ALSO if you look at the 1W (WEEKLY) timeframe you can see that price is actually creating subtle higher lows in price (buyers taking worse prices) which displays to me a demand for this product and a next likely move being to the upside.
On the hourly timeframes now you can see a shift to a bullish market which also gives the bias of the next move on this commodity being to the upside to upside supply around the $87 price point.
Hope this brough some value to you guys! Please boost this post and follow my page for more accurate analysis! Cheers!
Note
seller responded pretty immediate...watching carefullyNote
seller wasn't able to break lows as of now...still potential to upside!Order cancelled
Seller came in too strong
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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.