Crude oil has been unable to breach the supply region established in March 2022 in the $120+ range.
It's also having a hard time establishing ground above the 2011-2014 supply zone - price action above seems distributive with selloffs underneath carrying significant weight.
That said, given the macro climate it's unlikely crude breaks down from this range for an extended amount of time, we are targeting a re-test & sweep of the lows to cap downside - no lower than $90-$92 region.
OptionsSwing Analyst
Will Nozick
It's also having a hard time establishing ground above the 2011-2014 supply zone - price action above seems distributive with selloffs underneath carrying significant weight.
That said, given the macro climate it's unlikely crude breaks down from this range for an extended amount of time, we are targeting a re-test & sweep of the lows to cap downside - no lower than $90-$92 region.
OptionsSwing Analyst
Will Nozick
Catatan
Target reached
Education first, profits second.
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Education first, profits second.
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.