๐ CRUDEOIL โ 1 HOUR TIMEFRAME ANALYSIS
CrudeOil is currently testing a key resistance zone near 5995โ6000. Price action has respected the rising trendline, and the structure looks poised for a breakout or rejection move.
๐ Two Possible Scenarios:
๐น Bullish Breakout Above 5995 If crude sustains above 5995 with volume confirmation, we may see a sharp move toward:
๐ฏ Target 1: 6030
๐ฏ Target 2: 6065
๐น Bearish Rejection Failure to break 5995 may trigger a rejection and lead to a correction toward:
๐ Support 1: 5931 (EMA)
๐ Support 2: 5870 (Trendline base)
๐ Key Levels:
Resistance: 5995 / 6030 / 6065
Support: 5931 / 5870
Volume will be the key factor in validating the breakout. Until then, keep a watchful eye for a trap or fake-out near resistance.
๐ Disclaimer:
This analysis is for educational purposes only. Always manage your risk and trade with proper position sizing. Market sentiment can change quickly.
CrudeOil is currently testing a key resistance zone near 5995โ6000. Price action has respected the rising trendline, and the structure looks poised for a breakout or rejection move.
๐ Two Possible Scenarios:
๐น Bullish Breakout Above 5995 If crude sustains above 5995 with volume confirmation, we may see a sharp move toward:
๐ฏ Target 1: 6030
๐ฏ Target 2: 6065
๐น Bearish Rejection Failure to break 5995 may trigger a rejection and lead to a correction toward:
๐ Support 1: 5931 (EMA)
๐ Support 2: 5870 (Trendline base)
๐ Key Levels:
Resistance: 5995 / 6030 / 6065
Support: 5931 / 5870
Volume will be the key factor in validating the breakout. Until then, keep a watchful eye for a trap or fake-out near resistance.
๐ Disclaimer:
This analysis is for educational purposes only. Always manage your risk and trade with proper position sizing. Market sentiment can change quickly.
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