On the weekly chart, we clearly see that the lower border of the massive multi-year declining wedge sits right inside this same support zone (around $50).
Yes, weekly indicators show bullish divergence…but divergence only matters if price confirms. Until then, it’s potential energy – not motion.
What Could Happen Next? The Roadmap
Bearish Path
If black gold closes day below the orange consolidation, we’ll likely see (at least) a retest of the orange wedge breakout. If the bulls win here, we’ll see another bounce and buyers will likely try to close today’s bearish gap. However, if they fail, price will slide toward $55 or even $50.
Bullish Path
Do the bulls still have a chance to save themselves from the 50 test? Yup, but they need to defend nearest support zones, close today’s bearish gap and break cleanly above resistance cluster marked on H4. Only then does the narrative brighten.
Positioning Mindset
This is a decision zone. And decision zones are NOT the places where professional traders go big.
Why?
Because this is the part of the market where the fight is still happening. Pros don’t swing hard while the punch is still being thrown. They wait until one side clearly wins, the move gets confirmed and the path forward becomes cleaner.
Intraday – sure. Tactical scalps? Fine.
But swing-risk?
Not yet.
Because this is where capital goes to die when traders force a bias before the market declares one. Right now, the mission isn’t prediction. It’s patience.
Lab Takeaway – What to Do with This (Today)
Right now, crude oil is not trending. It’s building pressure at a huge long-term support zone.
That means one thing: this is a “wait and watch” market – not a “jump in early” market. Your job isn’t to guess the winner. Your job is to let the market show you who wins and then ride the move.
So, for now… mark the key levels, watch how price behaves around them, save your emotional capital and your financial capital. The big move (whichever direction it comes) will be clear enough to catch without stress… and with way better risk-reward.
Stay sharp. Stay curious. And let the chart choose the story before you do.
Anna
P.S. You’ve seen the Free Lab. Now you can trade with the full version for 7 days – completely free. If it helps you think clearer, stay with us. If not – cancel in one click. Zero pressure. 100% value. The door is open whenever you’re ready.
👉 Premium Access: Anna’s Trading Lab
