CrudeOil Analysis based on trend analysis.
After the fall from the level of 59, seems to have some bounce from the low level of 51. Now the trend is not bullish nor strong bearish based on the current level of holding.
On my analysis, may have good entry at the lower level of 54 with the SL of 52.50 and the target of 56 to 56.50 level. But if...
The price is being consolidated between the Trend line (Yellow) and the support line (Green) , we can expect the price to break the trend line along with the immediate resistance line in next price swing ($ 60.68 )
a long position can be taken once the price breaks out of the Trend line and target and stop loss shall be as indicated in the chart
21:33 Hrs / 5th Feb 2019
Jan 2019 has started upside recovery as suggested in the last idea that 38-42 $ base should act as strong & we look upside.
The Last Oil Idea ( Video Idea)