2025-02-05 - priceactiontds - daily update - wti crude oil
Good Evening and I hope you are well.
comment: Relentless selling on every rip. Bulls can’t catch a break and only a daily close above 75 will change that. Bears will likely get 70 tomorrow and then we will either see some bigger support or acceleration downwards.
current market cycle: trading range
key levels: 70 - 75
bull case: Well, some bulls are buying heavily for an hour or two and then it crumbles again. Bulls have no arguments and they better make 70 support or 65 is next.
Invalidation is below 70.
bear case: Bears are selling every rip. That’s about it. Their next target is 70 and for now I think it could be support for longer but we will have to see. I currently not trading this much. Bears have a wedge down and are still inside a bigger bear channel. Try to look for shorts close to the upper bear trend line with stop 75.2.
Invalidation is a daily close above 75.
short term: Bearish on pull-backs higher for target 70 but then neutral again.
medium-long term - Update from 2025-01-19: Triangle is dead and market is now in a proper trading range with upside to 80 or even 85.
current swing trade: Nope
trade of the day: Selling every big rip continues to be the name of the game.
comment: Relentless selling on every rip. Bulls can’t catch a break and only a daily close above 75 will change that. Bears will likely get 70 tomorrow and then we will either see some bigger support or acceleration downwards.
current market cycle: trading range
key levels: 70 - 75
bull case: Well, some bulls are buying heavily for an hour or two and then it crumbles again. Bulls have no arguments and they better make 70 support or 65 is next.
Invalidation is below 70.
bear case: Bears are selling every rip. That’s about it. Their next target is 70 and for now I think it could be support for longer but we will have to see. I currently not trading this much. Bears have a wedge down and are still inside a bigger bear channel. Try to look for shorts close to the upper bear trend line with stop 75.2.
Invalidation is a daily close above 75.
short term: Bearish on pull-backs higher for target 70 but then neutral again.
medium-long term - Update from 2025-01-19: Triangle is dead and market is now in a proper trading range with upside to 80 or even 85.
current swing trade: Nope
trade of the day: Selling every big rip continues to be the name of the game.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.