The light crude oil market has been experiencing a period of consolidation over several months.
A potential scenario that could signal a market shift would be if it breaches and maintains a price point of $82, which would represent a market bottom. At this juncture, a significant long position would be advisable.
As for the gap in trading, it is unnecessary to fill it as the gap range has already undergone extended trading for several months. In instances where a gap is situated within a range, such phenomena is a runaway wake-up gap, it does not require to be filled.
A potential scenario that could signal a market shift would be if it breaches and maintains a price point of $82, which would represent a market bottom. At this juncture, a significant long position would be advisable.
As for the gap in trading, it is unnecessary to fill it as the gap range has already undergone extended trading for several months. In instances where a gap is situated within a range, such phenomena is a runaway wake-up gap, it does not require to be filled.
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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.
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.