Hellena | Oil (4H): Short to support area of 67.34.
Dear Colleagues, Towards the end of the year we see a large accumulation of option contracts at levels that are well below the current price. I believe that we should look out for short positions.
I expect that wave 2 has finished its movement near the 74.80 area and I expect an impulsive wave 3, which will come at least to the target in the support area of 67.34.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
I expect that wave 2 has finished its movement near the 74.80 area and I expect an impulsive wave 3, which will come at least to the target in the support area of 67.34.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Comment:
The price is clearly in the resistance area and cannot overcome it. I suppose that the price will again test the area of 74.8, after which I expect a more confident decline to the target.
Comment:
Dear colleagues, I expect the price decline to continue in the coming week. Don't forget to put your trades to breakeven!
Comment:
Dear Colleagues, at the moment the price is testing the resistance area. Wave 2 has updated the maximum. The forecast is still valid and I expect the price to decline. Do not forget that the risk in a trade should not exceed 1-3%.
Comment:
It's very near the end of the year and maybe the price won't reach the target before the end of the year. But as before I predict the price to go down to the support area. I need to follow the changes carefully and on Friday, I may close some short positions, which will be a good profit.
Comment:
Dear Colleagues. I expect more price reductions. At the level of 69.00 we will need to look at new data and maybe close the remaining positions with a great profit!