notadailytrader
Short

CRUDE, XABCD Bearish Pattern, Position: Short

TVC:USOIL   CFDs on WTI Crude Oil
On technical hand, Crude oil has formed a XABCD pattern, which gives strong trend reversal signal.
The target would be as follows (shown by green dotted lines):
T1: 55.29
T2: 53.62
T3: 52.93
T4: 51.73
Stop loss (shown by red dotted line): 56.67
On a daily time frame frame as well, crude oil has a pennant formation, which can break at a downside.
Trade closed: target reached: First three targets were reached. I hope those who traded based on it kept trailing stop loss. New analysis on Just Dial is out. Happy trading.

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