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Mahtab_Tradia
Nov 26, 2021 4:12 AM

Crude Oil (Bearish) Short

Crude Oil (WTI)FXCM

Description

As you see in the chart, price didn’t succeed to make a higher high in its last upside move and has been rejected and pushed to the downside by the red resistance zone.

Moreover, a bearish reversal double top pattern has been created and the neckline is broken out.

Currently, we are in a downtrend and price is fixed below the neckline and is dropping after retesting it.

I expect a drop to 75.200 for now and If price breaks the support level at 75.180 and closes a candle below this level in 1H, we can expect more fall for Crude Oil towards 72.450 and 69.750 in a long-term period.
Comments
tanjunzieric
Spotted on! Great work
Mahtab_Tradia
@tanjunzieric, Thanks a lot!
Matt1104
oil has crashed really hard haha
anepben
Superb!
KlejdiCuni
Wow...amazing:)
Mahtab_Tradia
@KlejdiCuni, Thank you for the motivation.
ghulaitaa
Great analysis!! I wish I read this idea once it was published!!
Mahtab_Tradia
@Ghulaita, Thanks a lot! you can join my telegram channel or twitter, to notified my ideas as soon as they are published.
Mihai_Iacob
great analysis! thanks for sharing
Mahtab_Tradia
@OptimoomFX, Appreciate your support.
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