OIL: Short Term Bullish Setup - Very Risky
The trading setup we have for OIL carries a high risk as it has been moving against news reports on war or OPEC topics for days.
However, OIL faced a strong support zone near 60, thus increasing the chances of further growth. Perhaps the situation in GAZA could keep the price above 60 and it could rise slowly as shown in the chart.
The main target zones are near 62.6 and 63.8.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
The trading setup we have for OIL carries a high risk as it has been moving against news reports on war or OPEC topics for days.
However, OIL faced a strong support zone near 60, thus increasing the chances of further growth. Perhaps the situation in GAZA could keep the price above 60 and it could rise slowly as shown in the chart.
The main target zones are near 62.6 and 63.8.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Order cancelled
Note
For all members trading oil, it is better to stay away from OILNew developments on the war front are not affecting the price of oil. The bullish setup looks almost dead.
It was a clear bullish setup for a short-term movement but is not performing at all and is on it's limits of invalidation. It can also transform into something bearish soon.
Despite US President Donald Trump saying he is considering more sanctions on Moscow after Russia launched an attack with 367 drones and missiles towards Ukraine, the price did not react at all, thus making the direction of oil very suspicious and possibly even manipulated.
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
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.