notadailytrader

notadailytrader

Moving Average Trender on daily chart has turned positive, weekly reversals has come through with strong support on 75-80 levels, First target is a 38% retracement level, after achieving it a positive rally can be seen till 96-100 levels.

notadailytrader Updated 

On technical hand, Crude oil has formed a XABCD pattern, which gives strong trend reversal signal. The target would be as follows (shown by green dotted lines): T1: 55.29 T2: 53.62 T3: 52.93 T4: 51.73 Stop loss (shown by red dotted line): 56.67 On a daily time frame frame as well, crude oil has a pennant formation, which can break at a downside.