Here’s How The Price Action of Crude Oil Behaves Before A Correction

WYCKOFFPRO
2022-02-21

Find out the top 3 tell-tale signs that form the bearish condition for crude oil $Light Crude Oil - main 2204(CLmain)$ and how to confirm the price correction.

Click and watch the video below on YouTube (Pro Tip: adjust the speed to 1.5–2X):

Despite the bearish sentiment in the market, the indices are approaching the demand zone, which a rebound could be expected. The plan is to long the outperforming stocks as highlighted in thelive weekly session(with the focus on finance $Financial Select Sector SPDR Fund(XLF)$ and consumer sector $Consumer Staples Select Sector SPDR Fund(XLP)$ ).

Safe trading. If you are day trading the US futures or swing trading for Malaysia and US stocks, do check out my YouTube Channel: Ming Jong Tey for additional videos and resources. @TigerStars $NVIDIA Corp(NVDA)$ $Apple(AAPL)$ 

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • whimsie
    2022-02-22
    whimsie
    Looking back at the recent performance of super-high oil prices, the core factors are low inventory and tight supply. If we don't expand production, it is impossible for oil prices to fall.
  • zoomzi
    2022-02-22
    zoomzi
    Although the Iran negotiations are close to the expectations reached, they hit the market. However, the essence of the current market is that the demand is still in short supply, the demand has increased greatly after the epidemic, and OPEC is unwilling to increase production, coupled with the turbulent geographical situation, which leads to the obvious bullish trend of oil prices.
  • snoozii
    2022-02-22
    snoozii
    If travel continues to return to normal, the demand for crude oil will surge in the second half of the year. In this case, how does the crude oil price fall?
  • snixee
    2022-02-22
    snixee
    The Fed may raise interest rates at any time, and the rate increase may exceed expectations. Under the present circumstances, we can't expect the US stock market to rebound at any time. The decline will be the main theme of US stocks this year.
  • twizzy
    2022-02-22
    twizzy
    I think the oil price will remain high and volatile in February. I don't know if I guessed right.
  • WYCKOFFPRO
    2022-02-22
    WYCKOFFPRO
    $FUT:Light  Crude Oil - main 2111(CLmain)$ still up until the confirmation of a break below the key level mentioned.
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