After a 2-month consolidation of around 750 in November and December last year, Total started to rise at the beginning of the year and in mid-February passed above the 1T important zone.
A correction followed, but the bulls took control again once it dropped again under 1T, putting in a higher low on our chart.
For 3 weeks now the price is consolidating just under important horizontal resistance and is looking like bulls are waiting for a trigger to break.
In the case of a break, this would be of great importance, confirming a very large inverted H&S pattern, started in June 2022.
The measured target for the pattern is around 1.5T, a zone that is very nicely aligned with another important horizontal level.
As long as the price is above the 1.05-1.1 zone I'm bullish
A correction followed, but the bulls took control again once it dropped again under 1T, putting in a higher low on our chart.
For 3 weeks now the price is consolidating just under important horizontal resistance and is looking like bulls are waiting for a trigger to break.
In the case of a break, this would be of great importance, confirming a very large inverted H&S pattern, started in June 2022.
The measured target for the pattern is around 1.5T, a zone that is very nicely aligned with another important horizontal level.
As long as the price is above the 1.05-1.1 zone I'm bullish
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.