crude s been in this channel on 30 min for long ... if this breaks upside 0.5 dollar move s possible on monday , although daily view looks doji end of the day .
expecting short on crude due to its change in structure
Midterm forecast: . 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. Technical analysis: . There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08...
I will go LONG on USOIL because: 1) The price is under Support/Resistance zone. 2) It has touched the support and may reach the resistance zone . 3) Target would be the Resistance area . Book profit when it reaches the resistance zone . 4) The price is also forming a Chanel or Rectangle Pattern .
USOIL Descending triangle pattern formation in 1 hour chart. Based on breakout either you can go for long or short
What happens next? That described in the chart. You can ask me anything related to this chart by below comment section or DM.
Reason for USOIL reversal : Market has formed LH & LL pattern in 15 mins time frame and exactly 6:30 PM IST market has taken support from support channel which i mentioned in chart and reversed
USOIL 1 hour chart pattern formation on 04/08/2020
Energy ONGC: Buy 77.60, Target: 80.35, SL: 76.25
TVC:USOIL
Midterm forecast: . While the price is below the resistance 45.00, beginning of downtrend is expected. . We make sure when the support at 36.95 breaks. . If the resistance at 45.00 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08...
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