Haven't posted in awhile but with recent events in the middle east its a good time for oil as volatility will enter the market.
Iran has made a retaliation bombing against the US. We have yet t hear if the US will escalate the situation. We can expect there will be a escalation as I believe due to Intel the US has been preparing for something like this for awhile.
My bias at the moment is long although there is room to push down since these recent rally's has been quite large but expect buying pressure if a move down occurs.
On the chart you will find the consolidation zone and SR lines where the breakout will could occur. Blue lines are for take profits.
Long term there's still room for Higher Highs to make a touch on the top channel line.
Good luck and Happy hunting!
Iran has made a retaliation bombing against the US. We have yet t hear if the US will escalate the situation. We can expect there will be a escalation as I believe due to Intel the US has been preparing for something like this for awhile.
My bias at the moment is long although there is room to push down since these recent rally's has been quite large but expect buying pressure if a move down occurs.
On the chart you will find the consolidation zone and SR lines where the breakout will could occur. Blue lines are for take profits.
Long term there's still room for Higher Highs to make a touch on the top channel line.
Good luck and Happy hunting!
Comment:
Further breakdown, large volume kicking in so we might see a substantial bounce or further pullback.
Comment:
Comment:
Almost hit the 3rd target. Take profit as we might get a small correction
Trade closed manually:
Closed all trades. Good yield.
