OIL False Move Up, Can it Reverse ?
Updated
Hi everyone:
OIL has been on my watch for the last few weeks, and since the tension between Russia and Ukraine got worse, we did see a strong push to the upside initially.
But, after last week, we are seeing some potential reversals on the lower time frame, which can develop more to confirm the overall higher time frame bias.
Personally I do still see a possible bearish reversal price action on the HTFs, and now its all about confirming it on the LTFs development.
If this ascending structure, can ended up complete its reversal, and a right shoulder could develop within, then its extra confluence to look for the sell setups down to previous lows.
So, be patient and observe the price, if no bearish price action develops, then of course no entry, no trade, continue to watch the price.
Thank you
DISCLAIMER:
-My forecast and analysis are NOT trading signals nor financial advice, you should not enter trades and invest solely on this information.
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