Trade Alert
The commodity started forming a falling wedge, which, theoretically, has the tendency to break to the upside. But until we get that break, we will continue observing it.
If the upper bound of the wedge breaks, this could open the way towards the 68.35 or even the 71.65.
Alternatively, if a break of the lower bound happens, this could lead to a test of the 61.90 zone, or even the psychological 60.00 barrier.
Please see the chart for details.
Always have your SL in place.
The commodity started forming a falling wedge, which, theoretically, has the tendency to break to the upside. But until we get that break, we will continue observing it.
If the upper bound of the wedge breaks, this could open the way towards the 68.35 or even the 71.65.
Alternatively, if a break of the lower bound happens, this could lead to a test of the 61.90 zone, or even the psychological 60.00 barrier.
Please see the chart for details.
Always have your SL in place.