Bias: Bullish
Reasoning:
Demand zone respected – Price reacted strongly from the 62.00 – 62.20 support zone, forming a bullish rejection wick.
Liquidity sweep – The recent dip below support grabbed liquidity before reversing upward, signaling possible continuation.
Higher timeframe confluence – On the daily, crude oil remains in a broader accumulation phase with buyers stepping in at key support.
Risk-to-Reward setup – Entry near 62.70 – 62.90, targeting higher resistance zones, gives a favorable R:R.
Entry: 62.70 – 62.90
Stop Loss (SL): 62.00 (below liquidity sweep)
Target 1 (TP1): 64.08
Target 2 (TP2): 64.57
📈 Plan: Looking for price to push higher as long as it holds above 62.00 support.
Reasoning:
Demand zone respected – Price reacted strongly from the 62.00 – 62.20 support zone, forming a bullish rejection wick.
Liquidity sweep – The recent dip below support grabbed liquidity before reversing upward, signaling possible continuation.
Higher timeframe confluence – On the daily, crude oil remains in a broader accumulation phase with buyers stepping in at key support.
Risk-to-Reward setup – Entry near 62.70 – 62.90, targeting higher resistance zones, gives a favorable R:R.
Entry: 62.70 – 62.90
Stop Loss (SL): 62.00 (below liquidity sweep)
Target 1 (TP1): 64.08
Target 2 (TP2): 64.57
📈 Plan: Looking for price to push higher as long as it holds above 62.00 support.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.