Oil Price Update – Clean & Clear Explanation

3 dic

Oil (1-hour timeframe) analysis focused on a potential sell (short) opportunity. Price is currently trading around 59.40, inside a marked supply zone where previous selling pressure has appeared.

A possible scenario is illustrated:

• Price may push slightly higher into the upper part of the supply zone.
• After that small pullback or retest, the expectation is a downward move.
• The projected sell-off extends toward two key target zones:

Target Points;
1. First target area around 58.50
2. Final target area near 57.50,

Overall, the chart communicates a clean retest-and-drop structure, expecting price to react bearishly from supply and continue downward toward the next major support.

If you find it helpful please and comments for this post and share thanks.

4 dic

Trade attivo