GOOD RALLY IS WITNESSED IN WTI CRUDE OIL FROM THE LOWER LEVELS AFTER A BEAR ATTACK ON THIS COMMODITY WHICH IS UNDERPERFORMING FROM QUITE A LONG PERIOD BUT BULLS NOW NEED TO TAKE CAUTIOUS APPROACH AS IT IS GETTING CLOSER TO ITS LONG TERM RESISTANCE LEVELS AT 41.52-42$ WHICH COULD HALT THE CURRENT RUN UP IN CRUDE AND IT MAY AGAIN TEST LOWER LEVELS OF 35.30$ AND 28$ IN COMING WEEKS.
TECHNICALLY IT IS ON THE VERGE OF FORMING DIVERGENCE IN DAILY CHARTS IN NEXT WEEK AS IT IS SHOWN IN CHARTS (CHANCES ARE REMOTE BUT COULD BE WATCHED HOW IT PLAYS NEXT WEEK).
THANKS FOR VIEWING PLEASE LIKE AND COMMENT IF YOU FIND IT USEFUL.
TECHNICALLY IT IS ON THE VERGE OF FORMING DIVERGENCE IN DAILY CHARTS IN NEXT WEEK AS IT IS SHOWN IN CHARTS (CHANCES ARE REMOTE BUT COULD BE WATCHED HOW IT PLAYS NEXT WEEK).
THANKS FOR VIEWING PLEASE LIKE AND COMMENT IF YOU FIND IT USEFUL.
Trade closed: target reached:
Target of 35.30$ achieved partial profits can be booked and trailing can be done for next target in coming weeks.