FX.co ★ Volume analysis for oil and trading idea

Good afternoon, dear traders! Let me bring to your attention the volume analysis of oil and trading idea for the futures of the United States.

The technical picture is as follows: The upward trend remains after updating the previous maximum last Thursday.

The price is currently in the sales zone, from which it is possible for a downward movement. However, since the general trend is up, then the probability of reaching the maximum is high. In addition, the level of 59.50 can be considered as the second goal.

Today, weekly news on Oil Reserves will be released at 15:30 Universal time, which will increase market volatility.

H1. The nearest level for manipulation is 58.13, below which is yesterday's US volume density:

The analysis is presented based on the oil futures of the United States. Thus, trading levels may not coincide, so move the levels relative to the bodies and shadows of the candles.