CRUDEOIL ( daily chart ) :
On dec-17 update, we talked about CRUDEOIL regarding a false break of resistance around 2470 where we were looking for sell signal in-line with overall downtrend.As the overall trend remains bearish yet & we see price coming back to the same area of resistance after a sell-off from the same prior area of resistance.Now, current layer of 2470-2540 zone of resistance is more strong as 2540 represents prior lower-high swing level & in case this level breaks out on the upside,we'll expect a CHANGE OF TREND to happen in CRUDE.So, we're hunting price action sell signals on the resistance zone using 15min timeframe charts since price reaches 2300 layer of support at least.Below is the daily chart where i've shown you the reasoning of why we're finding sell signals & here is the entry chart analysis of 15min to get a possible entry if our strategy triggers.
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PLS NOTE : All chart analysis posted above are the author’s own idea of trading for educational purpose only & not any form of advice or recommendations or opinion to anyone.