Andrey.Ustinov
Long

Oil wedge breakout for bull run

FX:USOIL   Crude Oil (WTI)
see the chart to understand
f1l1per. PRO
9 months ago
snapshot
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Mdotee. f1l1per.
9 months ago
nice chart! no chance that this wave (iii)/(4)/(C) ends at wave (A) high?
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Andrey.Ustinov Mdotee.
9 months ago
Not good in EW sorry, but afraid double top can block way higher so choose your own way here, half position could be closed around here
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f1l1per. PRO Mdotee.
9 months ago
this is a possibility for sure. if what you suggest come to happen, then will be a longer correction, with possible bottom for wti on 26$, but i'm hoping for this actionary wave C to break this 34-35 resistance. Wedge is pretty open yet, i think it will squeeze for a longer time, what would require at least one more motive wave.

cheers
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Andrey.Ustinov f1l1per.
9 months ago
34 pretty strong resistance so be careful)
Nice wedge chart
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f1l1per. PRO Andrey.Ustinov
9 months ago
yes, its a strong resistance indeed. I was counting with a very similar resistance on SPX500 (about 1946), that broke yesterday, and now i'm worried about it become a support. i will get burn today, probably, if it don't change abruptly direction. So this strong resistence it's a two way signal.
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