16/08/2026
The Play:
On H4 we broke out of that falling wedge in late July, pulled back to 77.50, and now we're back retesting 88.00.
Bullish scenario: If H4 holds above 85.00 - 86.00, momentum could push for a sweep of 88.80, then open up 91.80. A clean H4 close above 88.80 invalidates the short-term downtrend.
Bearish scenario: Failure to hold 85.00 flips us back inside the wedge. That would expose 80.00 and then 77.50 again.
Currently in no-man's land. I'm not chasing - waiting for either a solid H4 hold above 86 for longs, or a rejection at 88.50 for shorts.
What are you seeing on Oil? Long or short from here? 👇
Not financial advice. Manage risk.
