Black gold - not this time
Not a typical price structure to see (daily TF). Trajectory was intervened and needs to find equilibrium.
Harder to analyze but 4H structure indicates short-term correction has been finished so there is room for micro cycle to go up again and that's the place where I'd expect clear topping structure. From long perspective short for sure but trading oil right now is russian roulette (literally...).
I went further than normally and indicated potential path but that doesn't matter actually. All it matters is tops and bottoms, not the price between that.
My ideas are mostly based on technical analysis and few fundamentals, but I don't follow specific indicator.
I have some know-how by looking across several indicators. Of course, I might be wrong as well.
Forecasting bottoms and tops, not target levels or price path.
Don't forget to enjoy your day:)
Disclaimer:
This is my personal journal, not investment advice for anyone.
Harder to analyze but 4H structure indicates short-term correction has been finished so there is room for micro cycle to go up again and that's the place where I'd expect clear topping structure. From long perspective short for sure but trading oil right now is russian roulette (literally...).
I went further than normally and indicated potential path but that doesn't matter actually. All it matters is tops and bottoms, not the price between that.
My ideas are mostly based on technical analysis and few fundamentals, but I don't follow specific indicator.
I have some know-how by looking across several indicators. Of course, I might be wrong as well.
Forecasting bottoms and tops, not target levels or price path.
Don't forget to enjoy your day:)
Disclaimer:
This is my personal journal, not investment advice for anyone.
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