Crude Oil: Multi Time Frame Analysis For Week 26
Time Frames: 1 Day, 4 Hour and 1 Hour
1 Day Analysis:
According to the key levels, market is in sideways since December 2022. Current price is bounced back from a key level and after a short consolidation most likely going up to the next key level around 73.
4 Hour Analysis:
Price is in a range between 73.50 and 67.50 level this month. There is a minor level around 70. A short rejection is expected at this level and eventually break it and move forward to 73 level.
1 Hour Analysis:
3 Major key levels and 2 minor levels. Bullish trend line is broken last week. Current price is bounced back from a key and minor level but in another key level’s territory.
Current Price Analysis:
Price looks bullish ATM but a rejection from this level can't be ruled out too!
Trade Idea:
Using 15 min Chart, nice scalping opportunities would be found in between 1 Hour time frame’s key and minor levels.
1 Day Analysis:
According to the key levels, market is in sideways since December 2022. Current price is bounced back from a key level and after a short consolidation most likely going up to the next key level around 73.
4 Hour Analysis:
Price is in a range between 73.50 and 67.50 level this month. There is a minor level around 70. A short rejection is expected at this level and eventually break it and move forward to 73 level.
1 Hour Analysis:
3 Major key levels and 2 minor levels. Bullish trend line is broken last week. Current price is bounced back from a key and minor level but in another key level’s territory.
Current Price Analysis:
Price looks bullish ATM but a rejection from this level can't be ruled out too!
Trade Idea:
Using 15 min Chart, nice scalping opportunities would be found in between 1 Hour time frame’s key and minor levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.