Based on the Commitments of Traders data reported on: April 12th 2022
#OIL look what we have here…. Price closed inside the 3 month supply zone just as we had suspected it would. What does this tell us? It tells us that the banks are following an agenda which they laid out on the charts. The have put this supply in play and this tells us that over the long/very long term we can expect price to drop.
Would like to see price stay below this red line throughout the next few weeks.
$EURUSD the red supply zones has thicker distal and proximal lines indicating that this is the zone causing the major force, in this case to the downside. The demand zone within the range is lighter because with the current dynamic the bias is that this demand zone should be taken out. A signal that this demand will be removed with high odds is if price drops lower than the low made back in 2020.
Weekly demand penetrated through and price officially removed the zone. This all leads to an eventual move lower that we are forecasting.
#USD weekly supply is removed and new demand is now formed. The pressure continues to the upside as price penetrates deeper into the monthly supply zone.
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