financialflagship

US OIL (WTI/USD) – Week 26 – Losing bullish momentum.

Short
FX_IDC:USDWTI   U.S. DOLLAR / WTI CRUDE OIL
Last week, we were expecting the US Crude Oil price to lose some value. Instead, the price slowly followed the upper wedge line, reaching new yearly highs. This is a sign that a bearish move is just around the corner, as the price slowly loses bullish momentum.
For next week, we expect the price to reach the support area highlighted on the chart.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

Comments

Good point! 👏
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financialflagship caldooninvestment
@caldooninvestment, Thank you :)
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Nice chart mate🔥
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@AtlasTrades, Thanks a lot :)
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awesome chart and idea
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financialflagship T_V_TreeTrader
@T_V_TreeTrader, many thanks! 🙌
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instead long for 75.67 target 1 and target 2 is 76.16

1st target is weekly resistance and second target is daily resistance. I hope still some bullish move is left.
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financialflagship Somanathrout
@Somanathrout, It still has some more room for bullish momentum, but it looks like the trend is exhausted and needs to correct a bit before going back up to the weekly resistance. Thanks for your input! 😊
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Somanathrout financialflagship
@financialflagship,
yeah sir, heart now refusing to beat slow. I always follow your analysis.
thanks to you also.
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financialflagship Somanathrout
@Somanathrout, Most welcome :)
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