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Oil, Another fractal in play, Previous one was Perfect

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The previous Oil analysis gave us a trade from the 75ish down towards the 65/66 and for the daredevils even to the current prices at 63. Now i expect the downward move is probably coming to an end now. Based on this fractal but also common sense, made a huge drop already so we should see some short covering soon (shorts taking profit). This drop has been a bit more violent than the 2010/2009 drop and this time we also have a weekly close at the low. To be honest, i did not expect that it would drop this fast again from the 66ish to the 62 ish.

To play it safe, it's best to wait for a green candle now, but actually waiting for a daily reversal candle. I personally zoom in on lower time frames and try to catch the reversal at the low. But that is something i will safe for my members :) Please don't complain about that like many have done, because it's still free and it has been for 5 months already

When missing the first wave up, don't chase it because quite certain there will be a second chance. After huge drops like this, the market usually tests the support at least twice.

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Previous analysis:

Oil preparing for the another wave down?

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We caught today’s low perfectly and the first batch of the long position is already. So far so good, but the real daily reversal needs a break of 64ish today. So still not certain that the low is already set, but we have a start

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Yesterday we saw a big rally where i caught the low/members with my members. The reversal was almost set because the 63.5/64 got broken, but we got a huge dump very quickly as well. On top of that, Mr Trump opened his mouth and the price took an ever bigger hit.
video.foxbusiness.com/v/5857878249001/

Anyway, the price dropped to the support zone again and we just moved above the 63 turning point level again. As long as we stay above this level, we could see another attempt to rally upwards. So chances are still here that the fractal has already started.

video.foxbusiness.com/v/5857878249001/

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