From a technical point of view, GAS OIL could develop a harmonic structure as shown on the chart.
If you think our analyzes are useful, support us with a simple "Like", thank you and trade with care!
Gas Oil futures price is currently testing the 61.8% retracement of the previous uptrend and this also happens to be a zone almost in confluence with the support zone. The price also seems to be forming a symmetrical triangle on the upper timeframes, therefore we should watch how the price tests those support and resistance zones, as those areas can provide good...
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
.zip (with PDF`s) @ my Google Drive
4XSetUps for next wee - friday close (32 Commodities)
Best regards :)
We have been following oil for long now.
THe 50 moving average is crossing the 200, under a key level and after a lot of bearish momentum.
It is a great opportunity to sell if we see some kind of retrace anf mini flag formation.
Trade save guys!