USOIL appears to have completed an ABC running flat continuation pattern.
I did initially think a bounce may be on as it drifted sideways but the first star followerd by downside acceleration showed that the dominant trend has probably re-established and its to the downside.
Second star shows upward pressure is too weak to hold as it did before.
Hugging the 200DMA second star finding resistance.
I think this will get going down the hill again soon and a 1:1 fib extension will take the second leg to $76.
XOM short linked below.
Not advice.
I did initially think a bounce may be on as it drifted sideways but the first star followerd by downside acceleration showed that the dominant trend has probably re-established and its to the downside.
Second star shows upward pressure is too weak to hold as it did before.
Hugging the 200DMA second star finding resistance.
I think this will get going down the hill again soon and a 1:1 fib extension will take the second leg to $76.
XOM short linked below.
Not advice.
Comment:
Two shakeout reversal patterns in the end which seems to happen at pivotal moments - through the 200DMA.
Comment:
Comment:
Monthly looking bearish AF - very high probability this crashes to at least $50 perhaps even $30 and no point in talking much more for now.
Comment:
Last support - Big fall once it breaks.
Comment:
Star re-test of support now turned to résistance. Heading down.
Comment:
Re-tested and rejected from previous resistance
And it bounced at the 1:1 fib from the 3 previous pivots.
If this fib fails it should collapse to the 1.618 @ $72 I think.
And it bounced at the 1:1 fib from the 3 previous pivots.
If this fib fails it should collapse to the 1.618 @ $72 I think.
Comment:
Another bounce along with everything else today except for DXY.
This 4H50MA should be a good test to see if the trend is flowing. If it is going to be as simple as another wave down and also if its a capitulation wave which I thought it might be then I think this MA should hold.
This 4H50MA should be a good test to see if the trend is flowing. If it is going to be as simple as another wave down and also if its a capitulation wave which I thought it might be then I think this MA should hold.
Comment:
USOIL has reversed at the 1:1 so it may be about to form a right shoulder LPSY. Oil shorts covered.
Telegram Trading Group 🧐
Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Get the "heads up" at critical moments - don't lose your shirt.
$50 per month 👍🏻.
Contact: t.me/dRends35
Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Get the "heads up" at critical moments - don't lose your shirt.
$50 per month 👍🏻.
Contact: t.me/dRends35
