Bull trend line was broken for oil. From this moment we are waiting for the fall. Soon. Oil will fall to $ 54 and then $ 50. Momentum indicators is also located in the area of sales. Can confirm the fall.
Comments
aibek
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Hi Zar, your arc showed the right direction but oil made a right shift and only then followed your trend.
It's interesting how did you build your trendline which was broken, is it an angle? because only one touchpoint is on the chart which is not classic trend building where 2-3 touchpoints are needed.
And where do you see it further?
No_more_Post
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Bull signal .
ElPatron.Y
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Looks bullish doesn't it?
SkyWalker3
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eventually to 65 when out of this corridor
CoolCreekCTA
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I think you are correct. I went long at 58 and covered at 58.75; now going short as 58.60 seems like a resistance point. i will double down at 59.38 if inventory report or other factors move it up.
ElPatron.Y
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Now it looks oversold, first retracement up and then diving.
ElPatron.Y
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I made up my mind lol...
ZarNegar
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Yes, there is possibility of a retracement.
In this analysis I have just pointed out the main trends
ElPatron.Y
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Do you see the bullish signs on 4H-tf?
ZarNegar
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Yes, I saw
But I think that the oil does not rise above 59.50.
And likely will fall.
It's interesting how did you build your trendline which was broken, is it an angle? because only one touchpoint is on the chart which is not classic trend building where 2-3 touchpoints are needed.
And where do you see it further?