Will it do what it always does? Thats the question that will be answered today. No risk no gains...
An Extended Flat taking highs and lows.. one big fall expected and then a big rise...
Certain hours ago a news came out, about higher crude output, this is a sell signal, but a weak one, also short term moving averages have crossed downwards..
The instrument is forming what looks like an ascending triangle, so taking long positions is favorable, if the breakout happens today than first target will be 67.27, although it is first likely to kiss the bottom around 66.48..
Corrective pattern looks complete with wave count and candle count.
Looking forward to go short upon the channel bottom breakdown. Will update the entry, targets and SL soon.
With Saudi increasing output .. it going to get rejected from these levels for the 3rd time and this time it might be a big fall. Levels for crude could down side target .. long only above 66.35 levels. Cheers!
Its not what we see and do that happens... lets see how this works out...
Crude heading 2 wards 60 $ Bear wolf triggers at 70 but missed
Weekly support if crude is in uptrend. Break this level will test 64 $ 61
Short below 65.5 with stoploss at 66 Target 1 - 62 Target 2 - 60 Target 3 - 58
Hi, Please refer chart for details. Trade with care Gulz
Both trendline and horizontal line shows support zone. "for self tracking"
wti crude positional looking good for next tgt of 79-80, cmp 71.77 stop below 67.
Potential classical negative RSI divergence setup on crude. But bears need to act here - forget what GS is preaching