Daily and Weekly Analysis on US OIL by ThinkingAntsOk

Use this as a guide to develop your own setup

Main items we see on the Daily chart:

a)The price is on a key level, we need to wait for Bearish or Bullish Reaction
b)Why this level is important? Because we will have solid clues to think on Bullish or Bearish Setups depending if the price consolidates above or below this zone
c)If the Bearish Scenario happens, we will wait for consolidation on the Support Zone, that will be a Strong Signal to think on a bearish Setup.
d)If the Bullish Scenario happens, we will wait for consolidation, but we don't have a good identified level yet.
e)By the moment we will not enter the market we will just observe the price behaviors on this week

Weekly Analysis