The idea here is about crude oil.
I am short term bearish on crude oil due to following observation.
1. Cypher harmonic pattern completed on daily chart.
The Cypher harmonic pattern is a technical analysis formation indicating a price-action reversal.
The Cypher pattern, which can be either bullish or bearish, has five points (X, A, B, C, and D) and four legs...
AS I HAD PREDICT IN OUR PREVIOUS ANALYSIS THAT US OIL (CRUDE) IS GOING TO ACHIEVE 60$ WHICH IS SUCCESSFULLY DONE
AND NOW IT HAD BREAK THAT LEVEL AND TRADING 66$ WE ARE PLANING TO BUY OIL AGAIN ONCE IT WILL RETRACE TILL BUYING ZONE AND FROM THIS SUPPORT
WE WILL BUY AGAIN MORE OIL TILL DESIGN OUR NEW LEVELS
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As i can see crude oil is trading above 50$ and show more bullish moves incoming days as Demand is increasing
lock downs are ending up and international Travel Restrictions ending also so we are expected USOIL more demand will achieve our design Targets
buy from given support zone with a small risk and wait for to achieve all TP
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The reason why we feel CRUDE may Rise.
* On weekly basis it has just started moving up
* To Rise and come near 39.57 levels
* Stoch RSI (3,3,14,Close) is Rising.
* RSI (14,CLOSE) is Rising.
* CCI (20,CLOSE) is Sinking..
Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our Buy call shall be from Buy above...
CRUDE is expected to rise.
It is a pure risk call.
We are expecting a gap up opening and may be the target be cleared in a day or two.
Our BUY call shall be from 32.18 with a SL @: 31.73 Tgt01: 33.70 Tgt02: 34.19 Tgt03: 35.72. Chances are bright that crude may even touch 36.57.We are expecting this to happen shortly. Caution: The above is our personal...
