Thursday, April 9, 2020

WTI Crude Oil Daily Observations

Looking a the current daily strucutre we can observe a balance behavior. Yesterday the market closed as an inside day; therefore we can observe the high/low area for any absorption pattern. Obviously a inside day break to surge higher to the bracket high could be possible as well. Additionally, we still have a open gap which should be revisted and filled. For now we observe the balance extremes for an absorption pattern to conclude a rotational scenario to the other side of balance extreme. Let's keep it simple.

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