WTI and Brent Crude Oil

OIL Bulls Aiming For W H5 Camarilla Pivot

Oil made a retracement and the price bounced again. There are two POC zones where we might expect a bullish bounce.

38.28-38.69 is the first POC zone. There is a confluence of 61.8, W H3 and bullish order block. If the retracement is deeper than watch for 37.47-37.81. 88.6 is one of the best levels to make a new entryand we should see a fresh bounce. The first target is 38.58 followed by 39.26, 39.81 and 40.89. The final target is the W H5 camarilla 41.13.

For a look at all of today’s economic events, check out our economic calendar.


Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.