CRUDE OIL - Purple War Zone!

22 дек. 2021 г.CRUDE OIL is overall bullish trading inside our brown rising broadening wedge and now approaching the lower brown trendline acting as non-horizontal support, we will be looking for Trend-Following Buy setups.

Moreover, the 66.0 is a strong support zone.

So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support and lower brown trendline.

As per my trading style:
I will be looking for a bullish reversal setup. For example, we have a trendline formed on H4 and we are waiting for the buyers to prove control by breaking above the last high in gray.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich