Hellena | Oil (4H): Long to resistance area of 76.08.

Dear Colleagues. I hope you listened to my advice and took a great profit from the last forecast. And now I am considering the continuation of the upward movement. I suppose that the price will reach at least the resistance area of 76.08. Before this movement it is possible to form a corrective wave 2 in the area of 50%-61.8% Fibonacci levels of 71.66.

Manage your capital correctly and competently! Only enter trades based on reliable patterns!

Comment:

The price tested the support area at 71.66 and started an upward movement. From this moment I consider only long positions.

Comment:

Dear colleagues, I suppose that in the coming week the price will continue its upward movement, but a correction to the area of 72.50 is possible, which will be a good opportunity to go long once again!

Comment:

The price updated the low and went lower than I expected (70.11). But I see this movement as an opportunity to go long again at a more favorable price! Now the price is in the range of long position set.

Comment:

Dear Colleagues, as I expected the price gave us a bargain. Now the price is around 72.00. I suppose that it is necessary to put the deal to breakeven and keep long positions with the aim to reach the target of at least 75.00.

Comment:

Dear colleagues, all those who did not have time to take profit will be able to do so. In the coming week, I assume that the price will go into correction, then continue the upward movement! Correction is possible up to the area of 71.00. I assume that it will be appropriate to place limit orders in this area.

Comment:

dear colleagues. I realize that the price has been in the range of my forecast for two weeks now. But there is a silver lining. It means that it was possible to enter the trade several times. At the moment on Friday, I see that price is showing good upside momentum again and is at the 74 level.
I will update the forecast again this weekend, but for now I am watching price.

Comment:

Dear Colleagues, we are in a trade for quite a long time, but I suppose that price will continue its upward movement in the coming week. It is quite possible that the correction to the level of 72.00 will give a chance to enter the trade to those who did not manage to do it earlier. then I expect a confident upward movement to the target of 76.00.

Trade closed: target reached:

Werll done!
Dear colleagues, the price has almost touched the resistance area and our target. Since the trade has been active for more than three weeks, I suppose it is reasonable to close the trade with an excellent profit!