This is an idea that I have an probably will keep working on for a long time. I haven't shared any ideas in a while, and this idea will be a detailed and one of my best ones so far. The aim is to provide the guidelines on how to improve the decision making of your next trade or investments. I will try to keep it as simple and short as possible. As the chart above...
i discussed my take on the spx500 via:
oil is currently in wave 5 from last march, and is about to begin it's last fifth wave after the mini correction in the days ahead.
i do think we have one last move up before the coming "market crash".
the reason why i don't like the term market crash - is...
Crude trades at 5,407 per barrel at press time, down 1.76%. Daily chart shows scope for deeper drop.
Negative UTC close today would confirm 14-day RSI bearish divergence.
MACD histogram about to produce bear cross.
OBV has flattened in recent days, contradicting a rising prices. Shows correction is overdue.
Close below 5413 would engulf Friday’s gain.
Crude oil is forming Ascending Triangle Pattern. According to the monthly chart and chart pattern analysis, the crude oil rally will not stop here. It will keep moving forward for levels of 5160 - 5300 - 5600+ .
MCX crude oil target for intraday traders is 5112 level.