USOIL on the monthly chart is moving inside a descending channel.
The price after hitting the huge monthly resistance at 43.50 got rejected and touch the weekly support around the 37 areas.
On the lower left chart, we can notice that the market created a double bottom with the last week closing in a double bottom higher close.
The daily chart (lower right) shows us that price is moving in an ascending channel, attempt but couldn't break the daily resistance at 41.30
IF the price will manage to break and close above the daily resistance we can set a nice long order according to Plancton' strategy.
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Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.
• ⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
The price after hitting the huge monthly resistance at 43.50 got rejected and touch the weekly support around the 37 areas.
On the lower left chart, we can notice that the market created a double bottom with the last week closing in a double bottom higher close.
The daily chart (lower right) shows us that price is moving in an ascending channel, attempt but couldn't break the daily resistance at 41.30
IF the price will manage to break and close above the daily resistance we can set a nice long order according to Plancton' strategy.
–––––
Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.
• ⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Commento:
we still want to see the break above 41.30 area.