West Texas OilLong
Weekly close above descending slope line?
Updated
As of now Oil is deciding if it is closing the week above the descending line, this means oil has to close up for the week.
Inflation has been rising lately, oil likes this very much, so my bias has shifted bullish recently for oil and other commodities.
1-Hourly Chart
Multiple rejections from the weekly open. Could be a nice entry point long.
Inflation has been rising lately, oil likes this very much, so my bias has shifted bullish recently for oil and other commodities.
1-Hourly Chart
Multiple rejections from the weekly open. Could be a nice entry point long.
Trade active
Looks like we have a winner.Note
Note
Still consolidating, could be another lower high.If descending pitchfork breaks, i will enter long positions.
Note
WTI has to make a move soon.
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