Daily Chart on Crude Oil / Bearish perspective by ThinkingAntsOk
Use this as a guide to develop your view of the chart:
Main items we can see on the Daily chart:
a)The price is on a support zone, making a corrective structure
b)We can see on the past a previous scenario (check the circles) where the price made a Corrective structure, and after that, a bearish movement started.
c)Currently, we are waiting for a similar movement.
d)We expect this structure is a continuation one, and if the price breaks below it a new movement will start with a target on the next support zone at 42.70
e)We will develop our setup on a lower timeframe such as 4hs / 1H
Check our previous idea on the link below to understand how we have been following Crude Oil
Main items we can see on the Daily chart:
a)The price is on a support zone, making a corrective structure
b)We can see on the past a previous scenario (check the circles) where the price made a Corrective structure, and after that, a bearish movement started.
c)Currently, we are waiting for a similar movement.
d)We expect this structure is a continuation one, and if the price breaks below it a new movement will start with a target on the next support zone at 42.70
e)We will develop our setup on a lower timeframe such as 4hs / 1H
Check our previous idea on the link below to understand how we have been following Crude Oil
