Crude Oil Futures- short term check

Here's a check on crude for the trading sessions in FEB


Mp Crude 4 Crude Oil Futures- Short Term Check


The chart above shows a market getting acceptance around the 5139 mark with closing prices and POC's around that zone.


This is a market in balance with a move to 5070 being rejected .


The next step was to probe higher which happened on the 11th. This imbalance was quickly restored through a 2 session DD profile on the 11th and the 12th which showed the market accepting higher value.


However there was not a lot of progress seen above 5280 with orderflow finally showing single print sellers on the 15th.


The current price stands in the low volume zone created on the 11th and is likely to strive for acceptance here with a value area being created above and below.


Buy the dips to 5120 and 5139 and sell all the rips to 5230- 5245.


Sideways consolidation to continue.