Oil seems to have begun to have found acceptance back into range marked out. Appears to be using yearly open as resistance. Entered short here targeting 45, invalidation above range highs
Something like this if the level I marked for trend continuation fails to hold, will see a lot of longs capitulating and shorts building with anticipation of retesting the diagonal resistance we broke out of especially on a brief loss of the quarterly open. Reclaim the quarterly open and you're good to enter whilst shorts will remain trapped from quarterly open imo.
green zone is where I want to be doing business. would like to see price ideally deviate into buy zone or worst case scenario, respect the mid range of bull flag before reclaiming 61,300 as support. Stops below yellow zone at 56,000, targeting 74,000 for tp1 and 88,000 for tp2.
