This time Oil will break rising wedge to fall sharply!!!

FX:USOIL   CFDs on Crude Oil (WTI)
882 14 22
Holding above Usdcad             is clear signal oil             will soon drop!!!
Comment: there is bullish divergence in overall trend on USD against other currencies, so USD will go further up... don't panic you will be profitable.
Comment: MACD crossed in H1...tomorrow gonna be big bearish impulse.usdcad is ready to fly after retesting broken structure.
Comment: after daily red candle from this level definitely pointing bearish move,
Comment: Wohooooooo :)
Comment: i am still expecting the same ,,,, it could be fake breakout and spike at the end.
Comment: daily pin bar is coming after tomorrow's closing.
Comment: well well well, as I updated yesterday, daily pin on today's closing, what else you need to be short on this.
Comment: what a fight!! wedge is getting narrow for breakout and sharp sell off.
Comment: hahaha, come on oil.
Comment: one more down move will break this wedge .
Comment: finally wedge is broken, next week will be possible red candles on the way.
Comment: ready for secondary short.
Comment: target is almost there.
could be false breakout on old chart, but this could be true story.
beautiful :)
arif_awan TRADER727
thank you trader, hope you had good trading week.
What is the time frame on this chart? daily?
Yep. D for Daily :) (see the grayed out background text)
arif_awan martinlhansen78
thanks martin for clarifying.
I think maximum drop will be about 45$.
+1 Reply
arif_awan Josef2016
yea lets see,,,,this is important area,,, if price start droping it could fall more.
how can you know that guys ? dollar index is streghtening and oil still rising on supply deficit
arif_awan andrej123456
and canadian dollar is droping too,,, soon oil will drop sharply ,,, its just a bull trap. i don't really know dollar index relationship with oil prices.
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