WTICOUSD If you don't know. BRICS is Brazil, Russia, India, China, and South Africa They have long suggested that they create their own currency to trade without the $ exchange. Whether it will happen or not is an outstanding question. Oil would be affected as these countries would trade oil excluding countries who trade in $. An interesting concept.
Trump: Any Country aligning themselves with the anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy - Truth Social
USOIL Any retrace coming on the Hourly can potentially be towards the trendline level (or close to it), then back down again because the Hourly is still newly in Bearish (directional) Market Bias.
Below is the thin S&R Zone (that starts at 67.60) and a Swing Low of 67.29. We'll see how low the bears will go when they resume their descent.
USOIL We've got a Triple Inside Day on the 4-Hour that formed yesterday. The BIG move from it is forming now with the bears headed for 67.16, the low of the Inside Day pattern for a breakout and can go down more.
USOIL Looking at the Daily that is in Bullish (directional) Market Bias, a Micro-Double Top formed with the highs of the last two candles.
As the bears descend from a fake breakout from the high of the Inside Day at 67.70, they are going back into the pattern and will near the Bullish Trendline (in green dotted line) to potentially cross down and to its right, flipping the market bias from bullish to bearish.
Watch to see if they will find resistance at the S&R Zone or drop below it over time.
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WTICOUSD@Darkboy I hadn't looking at the posts. But 15M tells a good story. Trendline break from overnights, ChoCH in Asian session from the retrace 8am BOS for London open, which is probably why it ran straight up without stopping. As it is a runaway. Targeting 70 today.
WTICOUSD If you don't know. BRICS is Brazil, Russia, India, China, and South Africa
