Oil Bearish Opportunity Follow Up and Update

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Oil Bearish Opportunity Follow Up and Update

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Hi Traders! Oil bearish opportunity follow up and update is here. In the previous here I mentioned “On the H1 chart the price moved higher and reached the critical zone exactly as we expected. Currently the price is inside the critical zone, in addition to this the price has also created bearish hidden divergence which we may consider as an evidence of bearish pressure. We may now look for more evidences of bearish pressure and then start looking for sells”. Lets see how this setup has developed now:

Oil H1 Chart:

On the H1 chart the price which was at the critical zone moved higher and broke above it, thus invalidating this sell setup.

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Regards,

Yordan Kuzmanov
Chief Trader at Traders Academy Club

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Stelios

Thanks for the update Yordan, appreciate it

Helen
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Helen

I have noted your updates Yordan. Thank you so much