#OIL : Beautiful Volatility contraction in the form of cup & handle which can give Breakout soon
>> Good Structure
>> Good Strength & Decent Volumes
Levels mentioned on chart
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Back in February, when Russia launched its invasion of Ukraine, a victory for Kyiv would have been almost impossible to imagine. It's the classic David and Goliath. Recent developments on the battlefront, however, are starting to paint a different picture, showing the possibility of Ukraine ending the conflict with a win.
On paper, the war is just between Ukraine...
Oil has given the movement as expected in our previous chart
we expect the oil to touch the box I have drawn
from there onwards we start our buying in oil
it can go further down. we are taking a stop loss of 65
but it is impossible to catch a falling market
so we will start buying the movement it touches our zone
As updated in the charts we still expect continued downfall in oil before it further shoots up for a new life time high TVC:USOIL .
It’s the right time to stock oil . we recommend buying in it from 86 levels with a stop loss of 64 .
Thank you so much .
CRUDE OIL Looking good to go long at current levels or in dips ( if any ), there is a good and clear assumptions of wave structure along with trendline breakout on daily time frame.
Price again closed above mass psycology cloud, and also above RK's stop line and also price has given close above 20DMA, also trend indicator macd is showing same bias to go long.
# Technically Crude is at Long Term Lower Support Line
# Magnet is in very favorable position for a Big Move
# Time Frame for $ 20 to $ 40 is 6 Weeks
# Weekly Charts have Positive Crossover of MA for Long Term UP move.
# OBV on Daily charts have Positive Divergence