A beautiful 2-day relationship pattern seen in crude WTI since morning. MCX crude last closed at 3804. Let us see how we react to the pattern now.
It's a pure textbook pattern tested and proven by the world's topmost traders.
Pattern name: OLHV
To learn the 7 (2 days relations) message me.
Its been observed Oil making upward move from quiet a time now and forming flag and pennant pattern in its upward movement. To take new position lets wait for the breakout on either side of trend line on lower time frame of 1 hr for confirmation and then take decision until then just wait till this whipsaws get clear.
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crude oil prices are heavily falling in past 3 - 4 weeks.
we can see good quarterly results in oil-based industries.
it will also affect petrochemicals prices.
so take a watch on companies which are in this sector, or having petrochemicals as a raw material.