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I am revising my thoughts based on what my prof explained to me....
Now i am seeing what i wasnt seeing before.
Description on chart....
Description on chart
Description of analysis mentioned on chart with Targets.
Description given in chart
has broken resistance trend line and will move skywards ....
It seems to be moving in an upwards channel pattern.
Support / Resistance marked on chart.
Looks like it will touch the upper RESISTANCE LEVEL (LIGHT BLUE LINE) and fall back.
Crude oil chart posted earlier today.... same one updated with RESISTANCE LINES.
Channel has been broken and now it remains to be seen if RESISTANCE will be broken on upwards movement.
Daily chart shows wedge formation.
Trend lines showing support and resistance met.
The BLUE lines also show where it has met support multiple times.
REC LTD from the past few HOURLY trading sessions, has been in an upwards channel. Channel breakout / breakdown may give good up or down movement.
CRUDE OIL CHART.
15 min TF.
Crude seems to be moving in a channel like formation.