📌 Market Structure
🔹 Key Support Zone (~64.50 - 65.30 USD)
The price has tested this area multiple times, highlighted by the red dashed line at the bottom.
A pronounced lower wick suggests a possible exhaustion of bearish pressure.
🔹 Intermediate Resistance (~68.20 - 70.00 USD)
The price has reacted to this zone, which appears to be a former support turned resistance.
Caution is needed for potential rejections in this range.
🔹 Liquidity and Wider Supply Zone (~75.00 - 80.00 USD)
This area, marked with red/purple gradients, represents a selling zone with a high concentration of orders.
The price could be drawn to this level if the bullish phase continues.
📉 Bearish Scenario
Failure to break above 68.20 - 70.00 USD could lead to a retest of 64.50 - 65.30 USD.
A breakdown below this level could open the way toward 62.40 - 60.00 USD.
📈 Bullish Scenario
A weekly close above 68.20 - 70.00 USD could trigger a recovery toward 75.00 - 77.00 USD.
A breakout above 80.00 USD would invalidate the long-term bearish structure.
🔎 Conclusion:
The price is currently at a critical stage around 68 USD, with potential for a pullback.
Monitoring the reaction between 65.30 - 68.20 USD will be key in determining the next direction.
Volume and macroeconomic factors (OPEC, oil inventories, Fed policies) will be crucial in confirming the trend.
🔹 Key Support Zone (~64.50 - 65.30 USD)
The price has tested this area multiple times, highlighted by the red dashed line at the bottom.
A pronounced lower wick suggests a possible exhaustion of bearish pressure.
🔹 Intermediate Resistance (~68.20 - 70.00 USD)
The price has reacted to this zone, which appears to be a former support turned resistance.
Caution is needed for potential rejections in this range.
🔹 Liquidity and Wider Supply Zone (~75.00 - 80.00 USD)
This area, marked with red/purple gradients, represents a selling zone with a high concentration of orders.
The price could be drawn to this level if the bullish phase continues.
📉 Bearish Scenario
Failure to break above 68.20 - 70.00 USD could lead to a retest of 64.50 - 65.30 USD.
A breakdown below this level could open the way toward 62.40 - 60.00 USD.
📈 Bullish Scenario
A weekly close above 68.20 - 70.00 USD could trigger a recovery toward 75.00 - 77.00 USD.
A breakout above 80.00 USD would invalidate the long-term bearish structure.
🔎 Conclusion:
The price is currently at a critical stage around 68 USD, with potential for a pullback.
Monitoring the reaction between 65.30 - 68.20 USD will be key in determining the next direction.
Volume and macroeconomic factors (OPEC, oil inventories, Fed policies) will be crucial in confirming the trend.
📈 Nicola | EdgeTradingJourney
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
📈 Nicola | EdgeTradingJourney
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.