CRUDEOIL BREAKOUT ? FROM FALLING WEDGE
Crude Oil (1 Hour Timeframe)
Pattern: Falling wedge pattern, signaling a potential breakout.
Entry: Long position above 6040
Target Levels:
1st target: 6100
2nd target: 6140
3rd target: 6200
4th target: 6235
Stop-Loss (SL): yours
Risk Management: Set stop-losses appropriately to manage risk and avoid potential losses.
Fundamental Factors:
Fed Rate Cut: The Federal Reserve's decision to cut interest rates is seen as positive for oil demand, potentially boosting prices.
Geopolitical Tensions: A recent attack on Iran-backed Hezbollah raises concerns about wider conflict in the Middle East, which could disrupt oil supplies and push prices higher.
Disclaimer: This technical analysis is based on the provided data and should not be considered financial advice. Trading involves risk, and past performance is not indicative of future results.
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Pattern: Falling wedge pattern, signaling a potential breakout.
Entry: Long position above 6040
Target Levels:
1st target: 6100
2nd target: 6140
3rd target: 6200
4th target: 6235
Stop-Loss (SL): yours
Risk Management: Set stop-losses appropriately to manage risk and avoid potential losses.
Fundamental Factors:
Fed Rate Cut: The Federal Reserve's decision to cut interest rates is seen as positive for oil demand, potentially boosting prices.
Geopolitical Tensions: A recent attack on Iran-backed Hezbollah raises concerns about wider conflict in the Middle East, which could disrupt oil supplies and push prices higher.
Disclaimer: This technical analysis is based on the provided data and should not be considered financial advice. Trading involves risk, and past performance is not indicative of future results.
IF THIS WILL HELP YOU, PLEASE LIKE THE POST ❤️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.