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What are the Next Critical Levels for the US OIL Price? 21/05/2019

critical levels for usoil 21-5

The left chart in the picture is the 4H chart.

In this chart, at the moment we can see the US OIL price is between two critical levels.

Where the price is now, there is no clear opportunity for the position, unless the price will create a new supply or demand.

The next level to buy US OIL is the demand below and the next level to sell is the supply above.

The demands below is a great level for the Buy position on the first touch of the price. The targets for this position will be the supply above. The supply above is a great level for the sell position only if the price doesn’t touch the demand below.

These two scenarios are relevant for swing traders, at the right side of the picture is the 1D chart. The supply above in this 1D chart is a great supply for the sell position for the long term.

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