tradafx

Uptrend Returns to Oil?

TVC:USOIL   CFDs di Minyak Mentah WTI
H4 time frame.
Structure: Downtrend.
The current price is still trading in the range of the 70.00 resistance zone .
Oil price is having upward moves to break the resistance level of 70.00 but there is no confirmation yet.
Along with that, the uptrend is decreasing, showing clear divergence signals.
In the bullish case, a clear rise above the 71.00 level is needed and there are confirmation retest signals.
In the case of a downtrend, it is necessary to wait for the price to break the Key level and confirm the downtrend is back.
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