We have a ascending broaden and a ( light blue line), I honestly expected nice movements after the but that didn't happen due to retracement in USOIL and weakness in DXY due to rate hike delay.
The retracement in USOIL is over now and we are heading down once again, also DXY has been forming a very nice status in the past week.
With the current information we have, we reach the conclusion that the up trend I was expecting about 3 months ago might have finally arrived.
We need to get out of the current consolidation ( purple box) to confirm the .
We know that the ascending broaden is normally a formation, but am expecting another leg up before we head down for a very long term.
We have broken the consolidation in the 4hr, but not in daily, this put us in a uncertainty of what next week brings.
If we do break the the yellow then we shall head down to the bottom of consolidation box, if not then the up trend we spoke about is intact.
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