CrudeOil Breakout or Reversal?

26 Mar

📈 CRUDEOIL – 1 HOUR TIMEFRAME ANALYSIS

CrudeOil is currently testing a key resistance zone near 5995–6000. Price action has respected the rising trendline, and the structure looks poised for a breakout or rejection move.

🔍 Two Possible Scenarios:

🔹 Bullish Breakout Above 5995 If crude sustains above 5995 with volume confirmation, we may see a sharp move toward:

🎯 Target 1: 6030

🎯 Target 2: 6065

🔹 Bearish Rejection Failure to break 5995 may trigger a rejection and lead to a correction toward:

📉 Support 1: 5931 (EMA)

📉 Support 2: 5870 (Trendline base)

📊 Key Levels:

Resistance: 5995 / 6030 / 6065

Support: 5931 / 5870

Volume will be the key factor in validating the breakout. Until then, keep a watchful eye for a trap or fake-out near resistance.

📌 Disclaimer:
This analysis is for educational purposes only. Always manage your risk and trade with proper position sizing. Market sentiment can change quickly.

26 Mar

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first target done