Crude Steps and Forces

12 mai

- all rectangles are potential support/resistance with the last one blue being a probable exception
- the 3 marked with dots levels can also become support/resistance, especially the first bottom blueish one, but they can also become like milestones levels or steps in the evolution of the price
- the 2 green curves are also potential support/resistance acting as forces pushing the price up or down

This snapshot considers the bullish scenario where the price remains above 66, with potential reversal patterns to occur near the red rectangle zone.

30 mai

Note

Rebound from the rectangle. Where will support step in? I am not inclined to embrace a full bearish bias on this one.

3 juin

Note

Cyan level reached. We could see a correction before we can think if it will even reach the red zone.

8 juin

Note

Bull wave occurred eventually, but would prefer to see another low to consider a bullish scenario for this one. Could be wrong though.

26 juil.

Note

Crude has been avoiding the rectangles in this project after the big rebound from the first, but it is getting closer to an interesting setup between the pinkish slim and the blue. Looking forward to seeing any potential signs of inflection especially at the slim one.

31 juil.

Note

First bullish wave at the end of this descending moves which could be a harbinger for things to come. Not quite rebound from the cyan marked price level and wouldn't necessarily expect a double bottom/tap here. This is just starting to look bullish.

2 août

Note

Last chance for crude to stop messing around before we send this project to the bin. Especially if it further decreases and finds ridiculous support near the 66.

12 août

Note

Decent rebound from the pink slim

14 août

Note

Resistance met at the big blue rectangle. We might even have to wait for this zone to end until we see a push towards the red dot level above, but I am somewhat inclined to think that we will see it being reached eventually.