CL - Crude: Give context to see tiny bits
Crude is really worth nothing at this time.
Bouncing up and down at free will...at lest it looks like.
But if we give it a little context, then we can see behind the curtain a little more.
The big picture (whole chart) shows the GAP, a strong up moving market within a huge down swing since 2015.
Mid term (fork) we see price respecting the centerline of the fork and it's trading at the upper extreme U-MLH since 2016/12
Short term, there is clearly something pushing price up, holding it at the slope of the parallel (grey).
And we also see, that the GAP from the big picture comes nearer and nearer.
Price is very pressed to the upside - no way to let it fall down.
This is how it "feels" to me, when combining the different timeframes.
A potential short term trade for me would be, if price climbes up the parallels centerline up to the GAP.
Will it happen?
We find out soon...
Hunt mode on.
P!
Bouncing up and down at free will...at lest it looks like.
But if we give it a little context, then we can see behind the curtain a little more.
The big picture (whole chart) shows the GAP, a strong up moving market within a huge down swing since 2015.
Mid term (fork) we see price respecting the centerline of the fork and it's trading at the upper extreme U-MLH since 2016/12
Short term, there is clearly something pushing price up, holding it at the slope of the parallel (grey).
And we also see, that the GAP from the big picture comes nearer and nearer.
Price is very pressed to the upside - no way to let it fall down.
This is how it "feels" to me, when combining the different timeframes.
A potential short term trade for me would be, if price climbes up the parallels centerline up to the GAP.
Will it happen?
We find out soon...
Hunt mode on.
P!