Crude broke the downward trend with conviction after a multiple week correction. This gives me more confidence for my potential long-term OXY trade setup next week. These stall candles signal accumulation and contraction. After the initial run multiple EMAs are used for supportive structure including candle bodies and wicks. I am late to the party on crude (but I dont trade futures), Oxy is lagging so that is my preferred method. This will be much like my previous trade , likely a multiple week/month hold, slow layered entry.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.