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mostly chance to go up because this is strong supprt
Description of analysis mentioned on chart with Targets.
has broken resistance trend line and will move skywards ....
It seems to be moving in an upwards channel pattern.
Support / Resistance marked on chart.
Looks like it will touch the upper RESISTANCE LEVEL (LIGHT BLUE LINE) and fall back.
Crude oil chart posted earlier today.... same one updated with RESISTANCE LINES.
Channel has been broken and now it remains to be seen if RESISTANCE will be broken on upwards movement.
Here I used EMA , KAMA & RSI.
at a 1450 level, a very strong resistance is there.
We can see the RSI & chart pattern is complementing each other very well.
it looks like the bullish trend is very strong so it can take some time to reverse.