Crude oil 4h, There are scenarios.
Updated
scenarios.
1. we got an H&S and it's brokeout too
2. a pennant that looks like it broke out too.
3. there's a double top
4. there's a 50% fib level retracement
5. overall retail market views is bearish.
price 51.73 and 60.70 is an either side negotiable deal.
conclusion: views is bearish technical is bullish. waiting for a strong breakout to either side so that we can make nice decision.
1. we got an H&S and it's brokeout too
2. a pennant that looks like it broke out too.
3. there's a double top
4. there's a 50% fib level retracement
5. overall retail market views is bearish.
price 51.73 and 60.70 is an either side negotiable deal.
conclusion: views is bearish technical is bullish. waiting for a strong breakout to either side so that we can make nice decision.
Note
bearish views got right so we're bearish now and price target is 51.
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