US OIL - 4h/1h chart long with possible rejection at 70.00
Monthly candle showing bull after previous month wicked short.
price should get to 70.00, if it rejects should hit 67.50
if it breaks 70.00 should hit 71.20
Friday burst off the consolidation looking to hit 70.00, still has some area to cover if it wants to test it.
I haven't analysed oil much but on the monthly there is a obvious higher low on the 1st-jun last year which rallied to the 200ema breaking long Jan this year.
the current month is forming a long wick, but price on the weekly is looking like it has made two higher highs off the 200ema and is looking like it is wanting to maybe reject of the 70.00 level.
i know that oil likes to trend and the smaller the time frame the more the long trend shows, but Fridays pump to me looks like a dump is coming to 67.50 then if the trend is true oil should long comfortably to 72.00
Monday will be the marker on what its going to do this week. but looks like a artificial pump to me - very interested to see what it does because it can move very quick.
price should get to 70.00, if it rejects should hit 67.50
if it breaks 70.00 should hit 71.20
Friday burst off the consolidation looking to hit 70.00, still has some area to cover if it wants to test it.
I haven't analysed oil much but on the monthly there is a obvious higher low on the 1st-jun last year which rallied to the 200ema breaking long Jan this year.
the current month is forming a long wick, but price on the weekly is looking like it has made two higher highs off the 200ema and is looking like it is wanting to maybe reject of the 70.00 level.
i know that oil likes to trend and the smaller the time frame the more the long trend shows, but Fridays pump to me looks like a dump is coming to 67.50 then if the trend is true oil should long comfortably to 72.00
Monday will be the marker on what its going to do this week. but looks like a artificial pump to me - very interested to see what it does because it can move very quick.
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have added my 4h analysis to related ideas.
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still working out this idea posting lol
