Oil Support and Resistance levels
Updated
Oil forming and inverse head shoulder pattern only valid if this trendline support helds on 76.50 area. if it takes support and continues with pattern oil might see 80 and 82 even 84 with head length again, keep on eye on current levels for breakdown or rejection to upside.
On lowerside if voilates trendline support 76 to 73 can be see below.
On lowerside if voilates trendline support 76 to 73 can be see below.
Comment
Trendline support got voilated H&S invalid now, trading at 75 area support if that goes out Oil will go down 2 points dowside easily to 73 area.
Comment
73 incomming
Comment
73 done
Trade closed manually
lower target of 73 reachedComment
73.20 above sustains long till 75,76 and 78 targets
Comment
trendline resistance break out happened
Comment
75 acheived
Comment
78 area testing now
Comment
at support now a rejection here can long else shot to 72 area target
Comment
long on support area
Comment
so far good up halfway to target
Comment
heading for target
Comment
Target acheived
Comment
73 and 72.50 immeadiate support if it goes further down there is support on 71.50 area
Comment
73 and 72.50 voilted fell to lower side
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