Oil Counteratteck bullish lines
The market touched levels of $81 before reversing back down. We see that the market did an evening start at the resistance zone that had a shooting star as the Doji body.
We see a strong push to the downside with the market gapping down then filling up the gap to close where the last candlestick had closed before. This is a bullish counterattack line.
On the H4 this is the only valid sign that the bulls might be stepping in. There is another bullish signal on the Daily which is a bullish side-by-side pattern that might be forming. The oscillator indicates that the market is still in overbought territory and contradicts other technical aspects.
It is possible for the market to head back up for a second retest or to create an official lower high.
The two candlestick patterns that appeared are caused by gaps in the market. It is not confirmed that the downtrend is over but It is advisable to have a set of confirmations before taking a trade.
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