Description
⋅ Crude Oil (WTI) & Natural Gas have been in an uptrend.
Reversal Patterns are present, and BIG bearish moves are around the corner.
Technical Analysis:
- WTI: Ascending Channel Breach
- Natural Gas: Ending Diagonal
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⋅ Comment
⋅ Trade active
⋅ Selling Crude Oil. Expecting a BIG drop...
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⋅ Last rise and then Crash for Energy.
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⋅ Updated Wave Count for WTI.
Triple Three. Comment
⋅ Natural Gas went deep in the green with this view.
OIL should follow soon.
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⋅ Natural Gas hit the 88.6% Fibonacci Retracement.
However, there's no Bullish Divergence, unless you're into a Reversed one...
Crude Oil however, is one step behind, it has still to deliver the BIG drop...
I think there could still be more down-side to NATGAS.
For WTI, I am expecting a big bear leg between $85 and $90 zone. Comment
⋅ Comment
⋅ Expecting WTI to crash at or slightly above the $80 mark.
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⋅ Bounce incoming for Natural Gas.
Trade active
⋅ Looks like Natural Gas will bounce from around here, while Crude Oil is getting ready to drop quite hard.
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