Why Oil is forming the important low?
1] Big volumes at the bottom of this (4)-(5) wave. But every new low reaches smaller progress in comparison with the previous one. This is a sign of hidden support (or the wall of BUY Limits).
2] Volumes are exhausting on this down-move. Bears couldn't use the center-line in order to reach a new low.
3] Bullish Breakout of the center-line. Volume (buying pressure) is rising.
What is the outlook?
I expect some bearish impulse from the top-line [4], but the global outlook is more bullish.
1] Big volumes at the bottom of this (4)-(5) wave. But every new low reaches smaller progress in comparison with the previous one. This is a sign of hidden support (or the wall of BUY Limits).
2] Volumes are exhausting on this down-move. Bears couldn't use the center-line in order to reach a new low.
3] Bullish Breakout of the center-line. Volume (buying pressure) is rising.
What is the outlook?
I expect some bearish impulse from the top-line [4], but the global outlook is more bullish.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Check my taplink.cc/chartreadingpro
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.