CRUDEOIL1! Based on the chart ⸻
📉 Bearish View: Key Observations
1. Price Action
• Price is struggling to break above the Bullish Zone (5884).
• It is currently trading below 5864, which is the neutral zone threshold.
• Multiple rejections from the upper resistance near 5884–5890, indicating sellers are active.
2. CPR and Key Levels
• Price is inside a tight range after failing to sustain above CPR.
• Looks like a lower high is being formed.
3. RSI & Zone
• RSI is around 50, which is neutral.
• Bearish confirmation strengthens if price sustains below 5864 and especially below 5845 (Bearish Zone).
4. Next Target Zones (Support Levels)
• 5845: Minor bearish trigger.
• 5812: Oversold-buy zone (expect some bounce here).
• 5764: Extreme OS-buy zone (final support).
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✅ Bearish Confirmation
If price breaks and closes below:
• 5845, you can add to bearish positions.
• Watch for rejection candles or bearish engulfing patterns near CPR top / resistance zones.
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