Tuesday, June 2, 2020
Crude Oil WTI CLN20 Heading Towards Gap
The CLN20 contract (Continues Back-adjusted) heading towards the open gab once
the market broke out of the micro bracket which is visible on the daily
perspective. Looking at the hourly periodicity we can observe three areas which
market could pullback towards to find potential support. The previous micro
bracket's high, the mean of the prior balance area and it's lower extreme. For
now we can wait for either a bearish pattern to conclude the pullback scenario
or simply waiting for a bullish pattern to continue the trend towards the open
gap which should be revsited and filled soon.
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