Hello Traders. We have a big week with big moves coming , lets break it down
After reaching a high of 84.5$ during the early session on Monday, Oil has fell below 82$ which has retail traders thinking that we have found a top. However, the charts are telling a different story:
Pulling a Fibonacci retracement from our most recent low to the highest point on the 1h timeframe, you can find that price has bounced from the golden pocket, the 618% which happens to be at the key 80$ psychological level. If that level manages to hold then we can expect a higher push towards fresh highs.
On the bearish side, a break below 77$, a level held 3+ times on the hourly timeframe suggests that a top might be set. This will most likely have to coincide with geopolitical events cooling down.
Remember, the charts , the levels respected will always give an indication to the next likely direction. So make sure to follow carefully
Hope you liked today's analysis. Make sure to follow for more!
After reaching a high of 84.5$ during the early session on Monday, Oil has fell below 82$ which has retail traders thinking that we have found a top. However, the charts are telling a different story:
Pulling a Fibonacci retracement from our most recent low to the highest point on the 1h timeframe, you can find that price has bounced from the golden pocket, the 618% which happens to be at the key 80$ psychological level. If that level manages to hold then we can expect a higher push towards fresh highs.
On the bearish side, a break below 77$, a level held 3+ times on the hourly timeframe suggests that a top might be set. This will most likely have to coincide with geopolitical events cooling down.
Remember, the charts , the levels respected will always give an indication to the next likely direction. So make sure to follow carefully
Hope you liked today's analysis. Make sure to follow for more!
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免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。