FX.co ★ CL/Crude Oil

Hello traders. #CL / Oil / OILUSD. Good day. Oil started this week without any surprises, and at the moment, the bulls are trying to maintain the initiative. Therefore, I continue to look north as a more priority option for myself. On the hourly chart, the indicators support further movement to the north, with the pair close to triggering another buy signal. Therefore, I am considering the possibility of opening long positions with an approximate target of 105.50-60. However, the lower indicators are not very supportive of the bullish sentiment, although they do not negate it. A similar situation is seen on the four-hour chart: the indicators are pointing north, but the buy signal has not been activated yet. One of the lower indicators does not support the bearish sentiment, and the Bollinger Bands are starting to expand, indicating a potential upward impulse. However, given the geopolitical uncertainty in the world, various scenarios are possible, and technical analysis is unstable, so trading here should be approached with great caution.