Crude oil is in cyclic double bottom pattern.
Weekly Time frame :: If a weekly candle closes above the 82.60, can expect a long bullish run of crude oil till 124 USD.
Daily Time frame :: In daily you can notice a DB pattern, I have drawn a descending trend line in which there is a short sell possibility for now.
But this short is a risky as the Weekly support(Levels I have mentioned in the video) is close by.
If anybody wanna trade for now, can go for a short. but whoever wanna trade after a proper confirmation in the trend please wait for a weekly candle to close above 82.60
:-)
Weekly Time frame :: If a weekly candle closes above the 82.60, can expect a long bullish run of crude oil till 124 USD.
Daily Time frame :: In daily you can notice a DB pattern, I have drawn a descending trend line in which there is a short sell possibility for now.
But this short is a risky as the Weekly support(Levels I have mentioned in the video) is close by.
If anybody wanna trade for now, can go for a short. but whoever wanna trade after a proper confirmation in the trend please wait for a weekly candle to close above 82.60
:-)
Trade active:
71.31 level has broke in 1H hour
Trade active:
solid breakout above the 82.60 in weekly time frame.
Related Ideas
BULLISH
the_paradox
about USOIL