WTI CRUDE OIL (CROSSROAD - Possible scenarios)

FX:USOIL   CFDs on Crude Oil (WTI)
use lower Time frames to choose your strategy
for me we need still to make double top or divergence on daily to continue downward moving
so range 44,73 - 48,7 (if break 50,5)
Also note:
- Broken triangle pattern still not worked himself ( bullish )
- Megaphone on top for now showing possible retrace from 17.09 high to bold support line which if broken, downtrend continue
I think our styles of charting our similar
Thanks for sharing your charts and comments kate, you're welcome and i'm glad you posted
agree about charting methods (classic style - better do not invent a bycecle twice), price bounced from 45 but now still dropped a little but i think till next Thirsday we could see test of 49
Andrey.Ustinov Andrey.Ustinov
also want to note then WTI futures have a gap at 44,76 so it can close before high sky fly
kate25 Andrey.Ustinov
You also identified the two demands below - I do not include the wicks whish throws my targets off slightly from yours, but they may be in play
For targets I just use the bars that broke trend - for price to continue to rise that bottom trend has to hold
I squished the chart here to show demand
Bullflag median on block
Kate monthly close will tell what price will do I expec it to rally at least to 56,6 let me show you why.
Yahia.Awes Yahia.Awes
Remember the weekly bullish div lurking still not played out.
Thank you Andrey for inviting me. My chart is similar to yours I will look at price action on right side then possible targets on left side of chart
+1 Reply
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