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EXCAVO
Sep 24, 2018 9:56 PM

Crude Oil  Short

Crude Oil FuturesNYMEX

Description

For a long time I didn't look at oil, but I see that we are approaching a strong resistance line that begins in 2008. I also saw an rising wedge - a reversal patterns. We will see this fall until April 2019. I do not know with what it will be fundamentally connected, I do not much look at the fundamental factors. But the fact that we will fall I'm sure. We are also near a very strong resistance level of 61.8%

Trade active

CRUDE OIL touched support line

Comment

Break out support line of falling wedge

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TECHNICAL ANALYSIS NOT WORKING?

Trade closed: target reached

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Comments
TheTrex
To support your view, top of channel, 0.618, narrowing wedge, historical broken resistance line.
Oil Shorting at 79-82, stoploss at 84-85, target 71/60/53/48
EXCAVO
@TheTrex, Good job
Attoom
Great job
any update please
Enhancement321
@EXCAVO The next great global recession either in late '19 or '20 will also have an impact.
Nolan96
Seeing what I see. Great analysis!
Skinwah
Spot on - see fall from 80 levels too
EXCAVO
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