Although the price is strongly moving upside, but strong resistance is ready to resist it & so i'm predicting in advance a particular price action here. So on that basis it can be assumed that price is ready to go down & will break the lower blue channel to hit the lower target shown by red channel.
If it breaks the upper blue channel satisfactory it will hit...
Clearly crude is in uptrend but seems that it wants a correction.
Both buying & selling pressure is visible in past 4-6 days.
Be careful while watching price action in any of the blue channel, market may reverse after touching or entering any of the channel drawn above.
Red lines may be a next target, if price crosses the channel satisfactory.
Note : Only for...
Trend & Chart patterns are suggesting that it is bullish, but its better to wait for a confirm signal. Lets break the red line.
Watch carefully the price action when it enters any of the blue channel.
Note - Only for educational purpose.
