Crude Oil: Pullback in The Bullish Trend
The price is going to bounce from 61.00 resistance zone. We have a reversal candlestick pattern. RSI confirms the price reversal. MACD supports a possible downward movement. In spite of bullish DMI, we don't have confirmation that buyers are strong now. If so, the market can correct the previous upward movement, and it will give us a sell opportunity.
We have the uptrend, and the correction will be logical in this bullish structure.
It will be better to search for entry levels for sell trades using not only the daily chart but also the lower timeframes. It will give us less stop size and better risk-reward ratio.
We have the uptrend, and the correction will be logical in this bullish structure.
It will be better to search for entry levels for sell trades using not only the daily chart but also the lower timeframes. It will give us less stop size and better risk-reward ratio.
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