

The chart of Crude Oil Futures shows recent market movements. A notable shift in trend dynamics is present, reflecting potential changes in trading strategies.
Overall, the analysis suggests a close watch on key levels for future trading decisions.
The chart shows a recent bullish trend that has reversed to a bearish pullback.
A Bullish Engulfing pattern was seen earlier in the uptrend, helping to propel prices upward.
Recent strong red candles indicate a potential reversal from the peak, with breakout occurring around the $64 mark and a pullback near $62.
The MACD line is below the Signal line, which suggests bearish momentum.
The MACD Histogram is negative and increasing in magnitude, indicating growing bearish momentum.
No significant divergence is observed; the MACD aligns with the price drop.
There is a notable increase in volume during the peak and subsequent drop, indicating strong selling pressure.
The volume spikes suggest possible institutional involvement in the selling phase.
The high volume supports the price decrease, validating bearish sentiment.
Resistance is around $66, a recent peak where selling pressure increased.
Support is near $60, observed as a prior consolidation area, serving as a potential rebound point.
These levels are crucial for understanding potential market moves.
Consider a sell strategy if the price continues to drop below $60 with sustained volume.
Watch for a reversal signal or support confirmation around the $60 level.
Look for any bullish candlestick reversal patterns or a MACD crossover signaling potential buying opportunities.



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Secured By SSL. Copyright © Axia Trade. All rights reserved. 2024
Company Information: This website (www.axiainvestments.com/) is operated by Smarttool Trading SC Limited, a Seychelles investment firm, authorised and regulated by the Financial Services Authority of Seychelles with license number SD034. Smarttool Trading SC Limited is located at Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles.
Partner company Marketvalley Ltd provides business operation services for Smarttool Trading SC Limited, office address: Archiepiskopou Makariou III, 198 Marinos Court, 1st Floor, Flat/Office 13, 3030, Limassol Cyprus, registration number HE415749.
Risk warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.
Regional Restrictions: Smarttool Trading SC Limited does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
Smarttool Trading SC Limited does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Smarttool Trading SC Limited is not a financial adviser.