Hello my beauties.
I'll be shorting oil until the 56/58 area as it needs to retest a 13 years old trendline. The price broke it to the upside and I don't think it is going anywhere before kissing it.
Oil is now facing a cluster that consists of the following resistances:
- 1 year long uptrend trend line ;
- downward channel trendline;
- inverted head and...
Oil has breached a 13 years long falling wedge.
I will be shorting until the 55/57 area, then switching to a long term buy that, in my opinion, could lead priced up to the 130 area. This would allow the big petroleum companies to sell their oil stocks at higher prices as they decrease production to switch to environmental friendly vehicles.
You can see that the...
My chart below, (see link), still stands for a long term view, the crypto broke above the fractal and needs a correction, this correction was quickly spotted and shown on this chart ending on the path of my origanal idea
I see a small drop first to around 1.660, in my idea this then longs without much resistance to around 2.125, I do see some action here, small retrace possibly to 1.950, but overall I see continuance moving to the 2.500 region
So a little more focus on the RSI on the 1 Day time frame, We have placed a Resistance line at 48.1 on the RSI and we're shorting it either to the blue resistance zone, also the (A) correction.
This trade would be invalid if rsi break through the resistance line and close above it. If RSI closed above then it's a good chance it will make a good move to the upside...