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Return To Shopวิเคราะห์น้ำมัน 13-17 มิ.ย. 65
Greeting all traders. Let us dive right in US Oil trade ideas of this week.
Previous weekly candlestick formed a doji candlestick pattern but did not close below the weekly candlestick’s high from two week ago, which indicates a sideway market with upper and lower trending range at 123.3 and 117 USD respectively.
Weekly Candlestick
Weekly candlestick from two weeks ago
Similar to our previous analysis, there are still a possibility that the prices will retrace back down as we are still in the supply zone of daily timeframe.
With bearish classic divergence from its RSI reading in daily timeframe’s supply zone, there is a probability that the market can retrace to daily timeframe’s demand zone. Price range that we can consider short selling is between 125 – 123.5 USD.
We can also wait for a reversal pattern in smaller timeframe for confirming your selling orders. For buy idea, we can consider buying range between 107.5-110 USD (confirmation with a reversal pattern is recommended before order execution).
PS: There will be a rollover of oil contracts this Tuesday the 14th June 2022 and there might be an unpredictable price gaps during this period. Proper money management and solid trading plans are highly recommended to reduce the risk of unexpected losses.
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