Wednesday, 31 August 2022
23:30 PM (WIB)
Crude Oil is still in Bearish Market, especially with the possibility of A dead cross in 1 Day time frame. The chart is still in Downtrend mode although already exited from the falling wedge structure pattern, with super support exactly at the lowest lines of ascending channel. The price has several times hit the support lines without breaking down the support lines.
What needs to consider as a downtrend movement is A Dead Cross. Where is the target from the Bears? Is it $80 to $75? That possibility has been shut down by The Super Bulls. Now the price concern for moving up to the Resistance and breaking out of the Death Cross?
A dead cross is A dead cross. But the price movement recently at the lowest lines now.
The MACD’s Lines also said so. It is still moving below the 0 points. This means the price still has more power to move up. But the volumes recently started to decrease.
The MACD shows the Bearish Market is still in control.
While the Stochastic lines have been moved up to the Resistance after some periods move at the oversold area. I think the Stochastic lines show the buyer’s movement so the lines rise to the Resistance. But the RSI has now dropped below the ’50s. So, it needs more strong volumes to move up the RSI again.
The RSI and Stochastic show the Bearish Market is still in control.
In this chart result, do not hold for long-term transactions on Crude Oil. Take the profit immediately when it hit the Resistance. Do not dream and hope. Just get the profit when it already needs to take.
23:30 PM (WIB)
Crude Oil is still in Bearish Market, especially with the possibility of A dead cross in 1 Day time frame. The chart is still in Downtrend mode although already exited from the falling wedge structure pattern, with super support exactly at the lowest lines of ascending channel. The price has several times hit the support lines without breaking down the support lines.
What needs to consider as a downtrend movement is A Dead Cross. Where is the target from the Bears? Is it $80 to $75? That possibility has been shut down by The Super Bulls. Now the price concern for moving up to the Resistance and breaking out of the Death Cross?
A dead cross is A dead cross. But the price movement recently at the lowest lines now.
The MACD’s Lines also said so. It is still moving below the 0 points. This means the price still has more power to move up. But the volumes recently started to decrease.
The MACD shows the Bearish Market is still in control.
While the Stochastic lines have been moved up to the Resistance after some periods move at the oversold area. I think the Stochastic lines show the buyer’s movement so the lines rise to the Resistance. But the RSI has now dropped below the ’50s. So, it needs more strong volumes to move up the RSI again.
The RSI and Stochastic show the Bearish Market is still in control.
In this chart result, do not hold for long-term transactions on Crude Oil. Take the profit immediately when it hit the Resistance. Do not dream and hope. Just get the profit when it already needs to take.