We may get a double top before falling down bcos there will be a pullback to liquidate bearish momentum. Downside target 53.23 and 52. Reason: Confluence 1. Rsi fourth consecutive touch on the upper trendline suggesting a downfall. 2. price confirmation at 57.13 three falling methods and touched the upper trendline. 3. price reached at 0.618 and 0.50 fib level....
IF WTI CRUDE CLOSES BELOW 55$, NEXT DESTINATION 51$ & 48$ TO COME... STAY SHORT SIDE...
price gap between 54 and 51 is crucial.. reversal may happen and if double bottom rejects then strong bearish till 42. keeping in mind Crude oil dropping from 60.70 and the previews H&S has been completed.
WTI CRUDE RANGE BOUND TILL YEAR END, WILL BE BREAKOUT OR BREAKDOWN FOR A BIG MOVE, MOSTLY DOWN, TGT AT 45 AND 30
On assuming chart of Crude Oil, it seems that we may see the move towards 61 levels in forthcoming days. After a mild correction, its now on the same track.