USOIL Monthly/Weekly/ Daily analysis 🦐
USOIL on the monthly chart is moving inside a descending channel and closing the November candle with a double bottom higher close formation.
On the weekly chart, the market manages to break the descending trendline and now moving to the monthly important resistance at the 44 area.
The daily chart shows us that the price just broke the range between the weekly support and the resistance at the 41 level.
Price after the break retraced exactly at the 0.5 fib level and seem to move to the monthly resistance structure.
IF the price will break and close above the daily structure we can expect the price to move up for a test of the monthly resistance, on the other hand if the price will break below the 41 area we will look for a potential short position.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Leave a comment that is helpful or encouraging. Let's master the markets together.
On the weekly chart, the market manages to break the descending trendline and now moving to the monthly important resistance at the 44 area.
The daily chart shows us that the price just broke the range between the weekly support and the resistance at the 41 level.
Price after the break retraced exactly at the 0.5 fib level and seem to move to the monthly resistance structure.
IF the price will break and close above the daily structure we can expect the price to move up for a test of the monthly resistance, on the other hand if the price will break below the 41 area we will look for a potential short position.
--––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Leave a comment that is helpful or encouraging. Let's master the markets together.
Komen:
nice break above!
Komen:
Komen:
price broke above the monthly structure