This is my trading plan for the Crude Oil. As far as I can see we just broke the blue trend line, looks like a good place for a correction. The plan is very simple, buy at the green support lines when they break, sell when you start a correction. Good luck to us all!
Day six of testing the 2060-2078 levels. when we will break the 2078.75 level, my first target will be 2100, second target will be 2118 and after raising to this new high we will test the 2140 level. Good luck!
After testing, the lower channel made a small correction. Red and blue lines are important and will be used by the market as a support/resistance. when we will break the red/blue line look for a place to buy. If we will go down, the red line will be main resistance. The only clue for a new down trend will be breaking the lower green line. Good luck to us all!
You can see a Fib 50% started from the year 2000-2008 at price 1.21385 which also come across with the bottom of the triangle shape as all as a major support level from 1998. we can defiantly see a correction! If not and the markets will continue their downtrends, we will test blue line. If the line will break we will go and test the 61.8 Fib on 1.12171. Next...
You can see a Fib 50% started from the year 2000-2008 at price 1.21385 which also come across with the bottom of the triangle shape as all as a major support level from 1998. we can defiantly see a correction! If not and the markets will continue their downtrends, we will test blue line. If the line will break we will go and test the 61.8 Fib on 1.12171. Next...
We have to go and test the lower channels before making a natural correction.
Another test for the upper channel is the first clue that I see as a good opportunity for a down trend. Not just that but you can clearly see a bear flag on the chart. Swing trade opportunity !!!