LewisGlasgow
Short

Crude Oil - Direction

FX:USOIL   Crude Oil (WTI)
612 5 54
Here we have USOIL             on a 4h chart which has taken the shape of an ascending triangle . Let's take a look at the Daily chart below which has the same structure, this provides a larger outlook on previous price movement.

snapshot


As you can see we are making another bullish move for our key resistance level , breaking this would potentially drive the price higher. If we fail to break resistance I can see price falling sharply breaking our triangle/trendline and continuing the move to the downside. I'm still in favour of going short on this pair as it correlates with my long term prediction!

What do you think? Leave your opinion below.
Comment: Broke resistance moving to the upside, long term prediction is still bearish.
Learn How to Trade the Most Advanced Market Patterns: https://www.sixfigurecapital.com

Join my Telegram Channel: https://t.me/SixFigureCapital

Facebook: https://www.facebook.com/lewglasgow/
Instagram: https://www.instagram.com/lewglasgow/
tomorrow is the Crude Oil Inventories forcast is 3.500M to the previous 3.502M is a small bullish indicator, but lets see how big the difference in fact is
Reply
Yeah the chart you shared below is looking very promising, I'll be waiting for confirmation before making a move :) thanks for that!
Reply
Probability says Ascending triangle breaks up, Measure the move :D
Reply
Never even thought about the measurements lol! Seen it shaping up but it was more to highlight the key area of support and resistance. What's your take on the direction?
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out