If you remember back I shared my first analysis about Oil prices and wanted to show how it reaches its resistance (around 65.4 dollars). It is pretty well worked out, then there was a pullback, but it did not even reach the previous swing High level (around 69.8 dollars). I really wait for another short position as I see the end of the impulse. Once it breaks the yellow trend line it will not stop until 67.43. It might bounce back from this level, but it makes more sense to go until the 66.66 price as it bounced back from there before and we can see a strong resistance level here. If the trend keep going down even after that our next price target is around 65.4-65.3 dollars. Some people say it is possible to see Oil price testing even 63.3 this week... What are your thoughts and probabilities in this case? any Oil traders here?
If you followed my previous chart discussion here about Oil, do not hesitate to share me the results :)
(Please note this post is not financial advise, and please do not trade under the influence of my posts!)
If you followed my previous chart discussion here about Oil, do not hesitate to share me the results :)
(Please note this post is not financial advise, and please do not trade under the influence of my posts!)
