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How To Make Money Today: WTI CRUDE OIL Daily Market Analysis and Forex Trading Signals, 5 May 2022

To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…

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OIL: 

On the H4, with price expected to reverse off the stochastics indicator, we have a bearish bias that price will drop from our 1st resistance at 108.17 where the 61.8% Fibonacci retracement and swing high resistance is to our 1st support at 102.90 in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal pullback resistance is.

Areas of consideration:

  • H4 time frame, 1st resistance of 108.17
  • H4 time frame, 1st support of 102.90 

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