I keep monitoring oil chart. Based on my recent analysis, the price is currently retesting a strong daily structure cluster. It looks like the market maker decided to push the price lower, invalidating my previous trading plan.
Now I am watching carefully a strong rising trend line on 1H chart. Currently, we see a test of that trend line and local consolidation in a horizontal trading range.
61.2 is the last lower high. I want to see a bullish breakout of that level (1H candle close above) to buy the market.
Goals will be: 62.3 63.6
In case of a bearish breakout of a trend line, I will look for shorting opportunities.
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