Crude Oil Swing trading
MCL / Crude Oil
I'm starting with monthly TF - Naked chart
Last months - On January - December can be seen that buyers push price higher and higer but still under $84
on $81,70-82,20 area, we have a support area that was resistence.
This area was touched 3 times, first time with an agresive rejection , second time, move some prices there but nothing wow but in the third touch..there was some move
We can see that it's possible to see a change of trend in this asset.
For stock market traders this is a great oportunity because there are a lot of undervalueated stocks.
Higher crude oil, higher prices for stocks but higher prices for everything
But for now, all we must to do is to wait to see if price move will confirm my analyse, I will wait to see if we have a breakout over 83, if we have, i m long in this !
I'm starting with monthly TF - Naked chart
Last months - On January - December can be seen that buyers push price higher and higer but still under $84
on $81,70-82,20 area, we have a support area that was resistence.
This area was touched 3 times, first time with an agresive rejection , second time, move some prices there but nothing wow but in the third touch..there was some move
We can see that it's possible to see a change of trend in this asset.
For stock market traders this is a great oportunity because there are a lot of undervalueated stocks.
Higher crude oil, higher prices for stocks but higher prices for everything
But for now, all we must to do is to wait to see if price move will confirm my analyse, I will wait to see if we have a breakout over 83, if we have, i m long in this !
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