22.01.202014:55 Forex Analysis & Reviews: Volume analysis and trading idea for oil

On Thursday last week, the futures for oil expired. New money provides new levels and price movements. At the same time, on Thursday and Friday, US volumes rose up, and the price of GEP made a new high. On the same day (Monday), in the European session, two attempts to resume the price growth from the previous US volumes were made. However, it did not succeed, which suggests a reduced volume in this zone, as well as the lack of progress in price growth. Moreso, on Monday, it was a public holiday in the United States, and the Americans did not bargain. The price easily went down under these volumes, confirming the absence of buyers at the level of previous volumes.

Yesterday, during the US session, the price came to the zone of the previous volumes. The price went down there, making the volume appear in the zone. This just means that this volume is more likely to be sold.

Wait for sales from the local level of 58.38-58.40, in order to capture the liquidity of 2 days-57.70 - 57.60.

Good luck in trading and control your risks!