Crude Oil (Derivatives) (OIL)

The Meridian system has been very helpful on $OIL so far.

It printed a North Star entry signal in early January at $59 (before the Iran war even started), and then an exit signal at $90 in May, right before the major selloff.

What’s next from here?

Price needs to break below the lower bound of the band around $80.

If that happens, there’s a large gap to potentially fill down to $74.

$OIL Cleaner view from 1W

1. Strong initial rejection
2. Gap below
3. Bearish retest still to be confirmed by the next candles

So far, textbook range loss + under retest https://t.co/lN8uMuB3Vo