Hello Community,
welcome to my new analysis of SHEL on the monthly timeframe perspective. In the current market phase, I have detected some important developments that are already pointing to higher targets. Therefore, I have identified all the important factors we need to consider now.
When looking at my chart, we can see how SHEL is forming this huge broadening wedge formation. Within the formation, SHEL completed the wave count and accelerated to the upside with the bullish upthrusts. Now, it offers a strong setup for further bullish expansions.
SHEL also has this ascending trend channel, in which it has strong support. I am expected the price to gradually bounce towards the upside within this channel. The whole broadening wedge target zone has been activated after the breakout above the upper boundary was confirmed. Once the targets are reached, further assumptions will be made.
In this manner, thank you a lot for watching!
The support is highly appreciated.
VP
welcome to my new analysis of SHEL on the monthly timeframe perspective. In the current market phase, I have detected some important developments that are already pointing to higher targets. Therefore, I have identified all the important factors we need to consider now.
When looking at my chart, we can see how SHEL is forming this huge broadening wedge formation. Within the formation, SHEL completed the wave count and accelerated to the upside with the bullish upthrusts. Now, it offers a strong setup for further bullish expansions.
SHEL also has this ascending trend channel, in which it has strong support. I am expected the price to gradually bounce towards the upside within this channel. The whole broadening wedge target zone has been activated after the breakout above the upper boundary was confirmed. Once the targets are reached, further assumptions will be made.
In this manner, thank you a lot for watching!
The support is highly appreciated.
VP
Trade active
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
►Professional Trader + Investor ►VP Premium Trading Channels: bit.ly/4bUD8N8 ►Telegram Daily Update Channel: t.me/VincePrinceForexGoldStocks ►$100 bonus, +$30,000 rewards, 0% maker fee link: bybit.com/en/sign-up?affiliate_id=19964
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.