Last week ended with the crude oil price drop creating a Doji candle on the weekly chart – a reversal signal for a trend.
Therefore, we will wait for the price to test around the previous peak. When everything confirms the downward trend, we can enter a short-selling state with an expectation towards the nearest area at 79.3.
The price is currently in a sideways phase waiting for confirmation of a reversal, so let’s adhere to risk management principles, divide the volume, and be flexible in strategies to achieve maximum profit.
Wishing investors smart and effective investment strategies. Stay tuned for the next the crude oil price updates.
By. Pham Thanh Bien
