Crude oil prices are at a crossroads, with a bearish gap hinting at potential declines. What does this mean for traders as Anna Radomska bids farewell?
In today’s oil price forecast, I decided to share with you my insights from today’s Oil Trading Alert. Have a nice read!
February 28, 2025
Invalidation of the breakout and its implications.
Technical Picture of Crude Oil
Looking at the daily chart, we see that although crude oil futures increased above the previously broken barrier of $70 and finished yesterday’s session above this psychologically important level, today’s session (Asian trading hours) started with a pro-bearish gap ($70.08-$70.35).
This negative technical development lured even more bears to the trading floor and triggered a pullback, which took the futures under $70.
What’s next?
Considering oil bulls’ weakness, it seems quite likely that we’ll see further deterioration and a test of the support area created by the black rising support line, the 78.6% Fibonacci retracements and recent lows in the very near future.
Nevertheless, even if we see such price action, the space for declines seems limited as the Stochastic Oscillator generated a buy signal, while the CCI is very close to do the same.
Summing up, crude oil futures invalidated the earlier breakout above the barrier of $70, which increases the probability of further deterioration and a re-test of the next support zone in the very near future.
Have a profitable day, a wonderful weekend and…. this is the day when I won’t write: “see you on Monday”.
Company’s support has probably already let you know that I’m leaving, and today is the day you’re reading my last analysis that I’ve prepared for you.
Starting Monday, I won’t be with you in this form anymore… Not in the form of charts and analyses, but I’ll be with you in spirit and heart, wishing you more profitable trades, more smiles on your faces when you check your accounts and see that your trades hit the take profit, and more beautiful moments that you’ll be able to experience thanks to these earnings.
Thank you all for this incredible journey we’ve taken together here. Thank you for the support and understanding you’ve shown me when the effects of the accident held me back and didn’t allow me to write for you… Thank you for every comment and every like that gave me strength and pushed me forward to keep going despite my condition and not give up… Thank you for that.
I’m stepping away from here as an analyst and returning to the world of my biggest passion, which has been burning inside me since childhood… I’m going back 100% to writing the book that’s flowing through me like a fountain.
Am I disappearing completely from Golden Meadow?
Probably not, because I still want to share my most powerful talents with you… imagination, creativity, and strategic thinking. Maybe I’ll return as a consultant who helps take the company to an even higher level, maybe as a course creator, or maybe as someone else. Wherever I am and whatever I do, I’ll be rooting for you and wishing you all continued success.
Stay healthy, tighten those stop losses ;) and… see you in the future.
Anna Radomska