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⚠️ Why you shouldn't go 🟢 LONG #OIL

#OIL made it through some supply which is a good sign for more upside BUT we are still within higher timeframe supply which should be noted!

Why is it important to note that #OIL is inside a massive SUPPLY ZONE . This supply is on the weekly timeframe which suggests to us that the banks could be taking profits on long positions at this location. Not a time for us to go long!

Recently we've seen the banks add to their longs on #OIL all the way to 400k. So they may start closing some down at this supply.


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