On a smaller TF we've seen Oil spike up & break structure, by taking out the previous high at $93.80. This indicates a change in structure from bearish to bullish. We're currently seeing an accumulation order take place (Wave II), where new buyers are entering the Oil market. The average retail trader will be scared to take advantage of this dip, which is beneficial for institutional investment firms like hedge funds & banks📈
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As expected from the last analysis, price is staying within this zone & we're still witnessing buying orders being accumulated, by banks & hedge funds. Take advantage of this pullback (Wave II) & use it to buy Oil at a cheap price📈
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Price has turned super bullish in the past 12 hours & broken back above the Wave II bullish accumulation zone. Those who took advantage of these cheaper prices, good on you. For those who missed it, you can still DCA into buy’s as prices are still cheap, compared to where it’ll be on a long term scale📈
