POC = Point of Control
Price at which the most TPO’s occur in the Market Profile chart
during the previous day. The prices that saw the most activity. Visually the
longest horizontal line.
VA = Value Area
Range of prices containing 70% of TPO's in a profile.
The Value Area is where price was accepted by the "majority" of the market participants.
Crude Oil : NYMEX:CL1!
The main resistant level is 49-51 levels.
As you can see, the MA 200 did a fantastic work.
When we will break this level it will be a confirmation for an uptrend.
We are coming again to test the 43-44 levels as a strong support!
The fact is that we tested this level as an active support level for more than 30 days.
Bull Flag – Bull Flag Pattern
The bull flag pattern is found within an uptrend.
This pattern is named for the resemblance of a flag on a pole.
The bull flag is a continuation pattern which only slightly retraces the advance preceding it.
The technical buy point is when price penetrates the upper trend line of the flag area, ideally on...