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.
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....