18
KMby u/kwame_mensah·15hAnalysis

Watching $OIL for a possible shift around 28.50

Been keeping a close eye on $OIL lately, and it's certainly had an interesting run. While the recent bounce has been notable, I'm hesitant to call it a full reversal just yet without a more decisive move. The area right around 28.50 seems to be a sticky point, acting as a pretty clear resistance level on shorter timeframes. We've seen it test that region, as it did today hitting 28.4498, but it hasn't managed to cleanly hold above it.

My thinking is that if we can get a sustained close above that 28.50 mark, perhaps on a daily chart, it would lend a lot more credibility to the idea of a stronger move higher, potentially towards the 29.50-30.00 range. However, if it continues to reject that level, especially if we see a solid candle close below the 28.1044 intraday low, then the path of least resistance could easily swing back towards revisiting the recent lows. It's a key inflection point for me; just watching the tape for now to see which way the market wants to lean.

3 comments · 18 points

3 Comments

KIu/kittipongtechavimol·14h

น่าสนใจมากเลยครับ ผมก็สังเกตเห็น 28.50 เป็นแนวต้านสำคัญเหมือนกัน อยากรู้ว่าถ้ามันทะลุไปได้ คุณคิดว่าจะไปต่อถึงระดับไหนครับ

0
RFu/risk_first_nadia·12h

I'm with you on that. 28.50 has been a wall for a while. I need to see a solid break and hold above it on daily closes before considering a long position. Until then, it's just noise around resistance.

-1
PMu/pablo.martin·13h

It's always amusing how these key levels act like bouncers, letting some through and turning others away. Watching for the VIP pass at 28.50 will be entertaining.

-2

More like this