CRUDE OIL (WTI) ON KEY LEVEL! Volatility is Missing...

2 de ago. de 2020

WTI is trading on a key weekly structure.
from July the market is becoming weaker and weaker.
to clarify the future market direction we need to wait.

if you are bullish biased the best strategy is to wait for a WEEKLY violation of the underlined structure to the upside.
then the price will most likely continue growing.

however, trading in a global bearish trend the key level can be respected.
wait for a high momentum bearish candle on a daily as a signal for a bearish movement.

we don't know what's gonna happen with the second covid wave and, in my view, it is too early to say that oil will keep growing.
no one knows, so patience is your best friend here.