USCRUDEOILCFD trade ideas
Trendline Breakout In Crude Trendline Broken at 64.5 and we can see bearish movement till 63.
on Monday we can expect Market to retrace till 63.6 to 63.8 levels based on trendline and then we can expect downward movement only if Trendline is not broken.
CRUDE OIL : Corrective sequenceAfter a lot of choppy sessions & an upside move , crude struggled the level of 64.5 $ & bears took control over there. As per the current structure we can anticipate a zig-zag correction having wave B completed at the level of 64.4 $ . We expect a downside movement to break the level of 57$ at least. The key level should be watched 64.5 as the SL,
Crude oil Daily TF forming Channel, Breakout might be at bottom.Currently market is between Major Supply & Demand ranges (Weekly TF).
Formation of Channel in daily TF is respected by lower time frames 4H & 1H.
Channel formation at Lower high of daily TF, So breakout might be at the bottom of the channel (High Probability).
Trade based on your Financial goals & Risk tolerance.
Think and trade in probability.