Crude Oil: Weakest Setup in Recent Times | Caution Advised

3 hari lalu

🛢️ Crude is showing one of the worst technical setups in recent memory. On the weekly chart, it's trading at a 4-year low, with back-to-back weekly breakdowns, indicating strong bearish momentum.

🔻 If the price breaches the recent support near $55.12, we could see further downside in the coming weeks. This level will be crucial—holding it might trigger a bounce, but a breakdown could confirm a deeper trend shift.

⚠️ However, it’s important to remember: Crude Oil is highly sensitive to geopolitical and policy-driven moves. Technicals can break down quickly under such influences, so trade with strict risk management.

📉 I'm using the #iSparkIndicator to monitor momentum and breakdown confirmations. It’s currently showing sustained weakness with no bullish divergence yet.

📌 Key Levels to Watch:

Support: $55.12
Resistance: $64.50

💬 Stay cautious and reactive—not predictive. Let the market show its hand.

🔍 Interested in the iSparkIndicator? Check my profile for more info.

#CrudeOil #OilAnalysis #WTI #iSparkIndicator #TechnicalAnalysis #Commodities #SwingTrading

semalam

Dagangan aktif

\🛢️ Crude Oil Update – As Predicted! 🛢️\

\A quick follow-up on my previous crude oil analysis:\

Crude perfectly respected the resistance zone I mentioned earlier — \tapping 55.30\ before reversing sharply, just above our \Stop Loss of 55.12\. That validation gives further weight to our earlier technical setup.

\What’s next?\

Technically, crude still looks \weak on the charts\. However, further direction from here will heavily depend on \global political developments and macro events\. Any flare-up or resolution in geopolitical tensions could swing crude either way.

\💡 Keep this level in mind:\ Watch for price action a breakdown there could invite further selling.

\More updates coming soon. Don’t forget to follow this space!\
\#CrudeOil #TechnicalAnalysis #TradingViewUpdates\