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A Retest of the Support on Crude Oil by ThinkingAnts
Light Crude Oil Futures
A Retest of the Support on Crude Oil by ThinkingAnts
By ThinkingAntsOk
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Jun 29, 2020
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Jun 29, 2020
Main items we can see on the chart:
a)
From the Contracts going to negative territory in April, we saw a huge reversal movement
b)
Currently, the price is moving between 40 and 35 US Dollars a barrel
c)
Based on the Support zone the price is on, we are waiting for a retest of it, as the first corrective Structure
d)
If that happens we will have a clear correction (ABC Pattern) supported by a major zone
e)
That will provide us with a high-quality scenario to look for long setups towards the next resistance zone.
brent
Crude Oil
Multiple Time Frame Analysis
Oil
Support and Resistance
swingtrading
Trend Analysis
WTI
wticrude
ThinkingAntsOk
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