Hello my friend If you have noticed, my comment was on sale Also, this analysis was done in the monthly time frame At the moment, with the last candle, the short-term uptrend line is breaking down But it should be kept in mind that it should take a month to close this candle Also, for stabilization, three more candles should be recorded below this trend line, so we need three months But considering the current conditions, oil is one of the important Fibonacci levels that can support it Also, if you draw an upward trend line in the RSI from the pivot of 2017 to the pivot of 2021, you will see that this line has not been broken yet, so it can act as a support. So, maybe for the time being these options will support oil according to these conditions, but I think that these supports will also be broken down in the future.
gabrielmoon20
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What's your opinion on it now Navid?
NavidBasatzadeh
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@gabrielmoon20 Hello my friend If you have noticed, my comment was on sale Also, this analysis was done in the monthly time frame At the moment, with the last candle, the short-term uptrend line is breaking down But it should be kept in mind that it should take a month to close this candle Also, for stabilization, three more candles should be recorded below this trend line, so we need three months But considering the current conditions, oil is one of the important Fibonacci levels that can support it Also, if you draw an upward trend line in the RSI from the pivot of 2017 to the pivot of 2021, you will see that this line has not been broken yet, so it can act as a support. So, maybe for the time being these options will support oil according to these conditions, but I think that these supports will also be broken down in the future.
If you have noticed, my comment was on sale
Also, this analysis was done in the monthly time frame
At the moment, with the last candle, the short-term uptrend line is breaking down
But it should be kept in mind that it should take a month to close this candle
Also, for stabilization, three more candles should be recorded below this trend line, so we need three months
But considering the current conditions, oil is one of the important Fibonacci levels that can support it
Also, if you draw an upward trend line in the RSI from the pivot of 2017 to the pivot of 2021, you will see that this line has not been broken yet, so it can act as a support.
So, maybe for the time being these options will support oil according to these conditions, but I think that these supports will also be broken down in the future.