This is my expectation.. Lets watch the market for few weeks...
This falling channel has been continuing for past few weeks.. lets watch till which extend it travels and when it breaks the channel and go upside...
any resistance like 56.5 on HTF is bright place to short , if anyone can maintain the short for next 4 month we can see oil well below $50 .
analysis mentioned
Perfectly retraced in every levels
As analysed earlier the target perfectly hit. Next target mentioned in the chart... 51 Usd As per below hourly time frame still crude is in down trend...
In day time frame crude oil is forming triangle pattern. So almost now crude near by resistance.. so coming days crude oil is expecting down trend.
Will WTI travel on the road on Inventory?
Crude oil formed triangle pattern and it will move as per mentioned in the chart..
I'm seeing an inverse hidden H&S and a pennant or falling wedge type pattern and they both are bullish. interesting to see if it does work out.. I'll keep it watching closely. Reason and confluences: this graph is experimental.