Bullish Momentum Strengthens as Crude Oil Approaches Supply Zone

16 de fev.

In this chart analysis, we observe a significant surge in crude oil prices driven by a prevailing bullish trend. The candlestick patterns vividly illustrate the dominance of bulls over bears, showcasing strong buying pressure in the market. Despite nearing a supply zone, the momentum exhibited by the bulls suggests a potential breakthrough, indicating a probable continuation of the upward trajectory. Traders are advised to closely monitor price action around the supply zone for potential breakout opportunities, keeping a keen eye on the strength of the bullish momentum.