Bullish Biases 1. Failed to make new LL 2. Strong Bullish C/S after price rejection at last LL and broke the ascending trend line. 3. Strong support on 78.13 twice at Fib level 0.5 . 4. Continuation Pattern Bullish Pennant yet another indication of continuation of bullish trend. 5. Bullish Divergence in RSI
WTI Crude Oil 1 HTF
Bearish Biases 1. After rejection the trend bearish and started making LHs & LLs 2. No significant Bearish C/S found. 3. Strong ascending resistance line still intact.
Trade Plan Buy-Long EN: After breaching ascending trend line at 77.85 SL: 76.28 just above Fib level 0.618 TP : 79.42 just above Fib level 0.236
Trade Plan Going-Short EN: After breaching descending trend line at 76.64 SL: 78.53 just above Fib level 0.236 TP : 75.07 in view of RRR 1 %
I expect a slight bump in price to the area of $82 next week
ajkhan30
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@InvestMate yeah I hope so. My first TP at 79.42 already hit and the trend is on its way to achieve the second TP
Bravetotrade
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Congratulations and well done for sharing your first idea with the community. Hope you will be having great experience. Thanks for your contribution. From mod @Bravetotrade