BTC $64,300.00 ▼ 0.33% ETH $1,899.83 ▲ 0.20% USDT $0.9992 ▲ 0.01% BNB $593.86 ▲ 0.11% XRP $1.03 ▼ 1.64% SOL $72.63 ▼ 1.20% DOGE $0.0692 ▼ 0.56% SHIB $0.00000469 ▼ 2.61% PEPE $0.0000028 ▼ 1.65% BTC $64,300.00 ▼ 0.33% ETH $1,899.83 ▲ 0.20% USDT $0.9992 ▲ 0.01% BNB $593.86 ▲ 0.11% XRP $1.03 ▼ 1.64% SOL $72.63 ▼ 1.20% DOGE $0.0692 ▼ 0.56% SHIB $0.00000469 ▼ 2.61% PEPE $0.0000028 ▼ 1.65%
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Piyasa

Oil in a very sensitive technical area

Oil in a very sensitive technical area

I’m on TradingView for the past 10 years but from now on I want to be serious and better about my published content, I’m a good trader but not a good writer my apologies in advance as English is not my native language.


Crude oil is in a sensitive area, the trend lower seems to have been reversed by breaking structures on lower timeframes, entering into another slow but bullish trend, bouncing from key support that was also triggered by ongoing war and peace talk complications along the straight of Hormuz.

At this place, a trump tweet about positive negotiations progress, can tank the price short term, but as long as the current conditions continue (Iran rejecting peace talks, war is still ongoing alongside failed negotiations) then we can see this level break and continuing towards ATH.

We take this trade bullish at the break of the current resistance level, looking closely at fundamentals with wide but trailing stop losses. The oil trade is about positioning with close eyes on the peace talks and trump tweets.

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