Crude Oil: Multi Time Frame Analysis For Week 26
Time Frames: 1 Day, 4 Hour and 1 Hour
1 Day Analysis:
According to the key levels, market is in sideways since December 2022. Current price is bounced back from a key level and after a short consolidation most likely going up to the next key level around 73.
4 Hour Analysis:
Price is in a range between 73.50 and 67.50 level this month. There is a minor level around 70. A short rejection is expected at this level and eventually break it and move forward to 73 level.
1 Hour Analysis:
3 Major key levels and 2 minor levels. Bullish trend line is broken last week. Current price is bounced back from a key and minor level but in another key level’s territory.
Current Price Analysis:
Price looks bullish ATM but a rejection from this level can't be ruled out too!
Trade Idea:
Using 15 min Chart, nice scalping opportunities would be found in between 1 Hour time frame’s key and minor levels.
1 Day Analysis:
According to the key levels, market is in sideways since December 2022. Current price is bounced back from a key level and after a short consolidation most likely going up to the next key level around 73.
4 Hour Analysis:
Price is in a range between 73.50 and 67.50 level this month. There is a minor level around 70. A short rejection is expected at this level and eventually break it and move forward to 73 level.
1 Hour Analysis:
3 Major key levels and 2 minor levels. Bullish trend line is broken last week. Current price is bounced back from a key and minor level but in another key level’s territory.
Current Price Analysis:
Price looks bullish ATM but a rejection from this level can't be ruled out too!
Trade Idea:
Using 15 min Chart, nice scalping opportunities would be found in between 1 Hour time frame’s key and minor levels.
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