Crude will be in a range of $39 to $43 in the month of October. More probabilities of breaking the upper circuit to test $45 and $49. But a news pertaining to lockdown in U.K can drag it below $39. Best buying range $39-$39.7 for a target of $43 with a Stop of $36.5.
. While the price is below the resistance 43.60, beginning of downtrend is expected.
. We make sure when the support at 30.85 breaks.
. If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid.
. There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08...
Beautiful shorting setup built on Crude oil 4 hour chart with risk of 2:1. There is a strong supply zone from $ 29.16 to $ 30.04 on 4 hour chart and oil is heading towards the supply zone. This supply zone has been tested only once till now and there is a strong possibility to reverse the trend on this price level one more time.
Short @ $ 29.10
Stop Loss @...