Oil Ranging Markets Prevail

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

Oil has formed support and resistance levels exactly around the D H3 and above W L5. The market is heavily ranging.

Confluence zone for sellers is 41.21-41.66. We should see selling towards 40.59, 40.02 and 38.47. 38.47 is the first level to watch for possible longs. If the market doesn’t reject there, then watch for 88.6-78.6 Fibs 37.37 -37.85. Buyers are positioned there, and the price should bounce to 38.47, 39.01 all the way up to 41.64.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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Kjme
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kjme

Hi Nenad,

This is with reference to your video on the admiral markets channel. I would like to learn more about the murrey math trading system. Could you please share with me the information, strategies and techniques to be able to use this system.

I am in India and would like to trade the Indian markets – however, i do not use any trading software and would like to know how do i use the Murrey method

tks
kj