Crude Oil USD Movements
Analysis On 28th Feb 2024
USOIL seems like taking support of 100 Ema on Monthly and Daily TF.
If it close above 5ema at the end of this February Monthly Closing it would be good confirmation to Buy.
USOIL seems like taking support of 100 Ema on Monthly and Daily TF.
If it close above 5ema at the end of this February Monthly Closing it would be good confirmation to Buy.
Note
-On A Weekly Timeframe Majority of Buyers are at 74 $.-It denotes that 74 is strong support for downside from current price 79.77 $ and 79 is a beginning of low volume zone after I have put FIXED RANGE VOLUME PROFILE TOOL.
- Low volume zone means less strong resistance on upside compared to its lower side POC (Point of control) zone.
EXPECTING SMOTH UPSIDE MOVE IN COMMING DAYS
Note
On Lower Timeframe nearest Support is 78.60 $Note
Nearest Support is now 80 $ from 78 $, Due increasing in volume at lower price levels.15 Hrs. still left in closing for Monthly candle, point here is, if t close above 80$ price it's still bullish and can carry your existing positions with trailed stop loss of 80$ on Daily Closing Basis.
Trade closed manually
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