Daily chart
Looking at the daily chart we can see that this Thursday the Crude Oil closed with a candle of indecision, which confirmed what we mentioned before, and we do not yet have a picture of prevailing. However due to that the current price is on its neutral line of 4/8 (blue line), also taking into account the previous two days of sustained rise we could say that the predominant force is bullish. For this scenario is valid the price of any marera should close below 93.75. In the event that this would happen, we would be only before a price correction within its downtrend.
4-hour chart
In the figure of 4 hours we can see that the crude oil has been rocking practically the whole day inside a box of price. Therefore, the time to break in a clear - not a widening of its range area - we can have a new input signal. In the meantime, we believe that also today the price will remain within this area, and do not suggest any entry position.
1-hour chart
Finally in the graph of 1 hour, we note that, unlike our chart of the Wednesday January 15, where the price of crude oil was moving within a channel bearish, at this point we have a totally different picture.
In addition to that we have the fact that the price is above its moving average as well as the 6/8 line (red line), the same as it is a line of reversal is very important.
Why we tend to think that the price will end up breaking the housing price upward with a candle; however, there will have to have patience to see what finally happens.
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