Crude Oil Diary

On hourly, up move was very strong compared to recent down move. So, bears need to be careful.

OPEC meeting tomorrow

Monthly in downtrend with weekly and daily in sideways.

Monthly trend is still down. Weekly and daily trends are in sideways to up. Two attempts of selling at weekly supply zone is weak compared to pullback, so it sounds like Crude will test monthly supply zone if it breaks weekly supply zone. Let us see whether it makes or breaks.

Price is in a daily and weekly supply zone. On hourly, it tried to break the trading range, but again retraced into range.

Interesting Range

Shrinking and at mid point of range, will it blast?

Too tight range (Coiling to blast!!!)

Range!

As Crude oil is trading in a range, it is better not to take big positional trades. Keep your trades small, size-wise as well as time-wise.

Just for sharing. Here my trading plan.☺