The bear market is further opened up,
In the future to maintain the High-Short trading ideas.
Or Sell Limit 61.50
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Crude Oil break out support line of the uptrend channel. We touch support zone.
After oil drop price start to recover.
I see 3 resistance level for oil.
1. 55.8$ - 38.2% level fibonacci
2. 59.94$ - 50% level fibonacci
3 64 - 61.8$ level fibonacci also resistance line
But global It look like impulse-correction-impulse
Slight variation on this smaller timeframe count >
Looks like the 5 waves down are complete followed by a rise in price to 0.5 level, before a sell off. Could be wave 2 or B complete which fits with this larger timeframe count >...
After a good upward run, the market starts a correction. We got a reversal candlestick pattern and now we have a strong bearish candle. RSI confirmed the price reversal from the resistance zone at 76.00 level. MACD supports the further downward movement, and MACD lines are going to do the same soon. The price tries to break the local uptrend line, and it looks...
based on my previous projection ; brent oil can push for a little more upside but will fallback to 46-50$ / barrel range in Q3-2019.
for longer term : i'm expecting a very strong bull market. above 110$ in 2021.
1) Short correction.
2) Double small impulses
3) During breakdown of the first candle. growth is same size of candle. (TD)
Profit:Risk = 1:1
Buy Stop = $5.07
Take Profit = $5.23
Stop Loss = $4.91
Take Profit = +3.16%
Stop Loss = -3.07%