(previously even after the breakout we avoided to o=go long)
the recent pullback is the reaction of higher time frame inducement where price made a imbalance and didnt retest the resistance zone
so there 7195 - 7065 will act as short term support and it is also a fair value area from higher time frame
either price will retest this zone and then head towards 8000-8300 level
price tried to retest the zone twice but couldnt mitigated the area
still the area hold major buying interest because it has created a liqudity of new fresh long stop losses underneath
THIS IS JUST ANALYSIS, YET NO CLEAR PICTURE TO INITATE A TRADE
the recent pullback is the reaction of higher time frame inducement where price made a imbalance and didnt retest the resistance zone
so there 7195 - 7065 will act as short term support and it is also a fair value area from higher time frame
either price will retest this zone and then head towards 8000-8300 level
price tried to retest the zone twice but couldnt mitigated the area
still the area hold major buying interest because it has created a liqudity of new fresh long stop losses underneath
THIS IS JUST ANALYSIS, YET NO CLEAR PICTURE TO INITATE A TRADE
Comment:
oil stuck in 7300 - 7600 range this to zone to avoid trading in it can lead to both ways destuctions
Comment:
STILL NO IN FAVOUR TO GO LONG
Comment:
as predicted swept buyer liquid on breakout and now falling back to 7200-7000 lvls
Comment:
price was volatile and triggered short and long both sl and now moving further downside check new update
