$CL1! / #OIL | 1H Trade Setup Update Position: 🟢 Long

$CL1! / #OIL | 1H Trade Setup Update

Position: 🟢 Long

Trade Details:
• Entry: 68.69 (0.65 Fibonacci Level)
• Stop Loss: 68.52
• Take Profit: 70.37

● Current Analysis
Oil (CL1) is trading beneath the Value Area Low (VAL) and attempting to break through the 21-period moving average.

● Technical Indicators
- Bullish Divergence: Momentum and money flow are both increasing, signaling potential bullish pressure.
- Stochastic RSI: Low, which suggests there may be room for upward movement.
- MACD: Bearish momentum is weakening, though the MACD line is still under the signal line, reinforcing a short-term bearish trend.
- Volume Profile: Low volume at the current price level, indicating reduced buying interest.

● Outlook
Despite the current bearish signals, the trade hinges on a possible breakout above the 21-period moving average. Keep a close eye on any moves below the entry level and manage the trade with the stop loss firmly placed at 67.54 to mitigate risks.