Midterm forecast: 58.05 is a major resistance, while this level is not broken, the Midterm wave will be downtrend. We will close our open trades, if the Midterm level 58.05 is broken. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A trough is formed in daily chart at 50.70 on 06/05/2019, so more gains to...
Midterm forecast: While the price is below the resistance 60.95, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 60.95 is broken, the short-term forecast -beginning of downtrend- will be invalid. We will close our open trades, if the Midterm level 60.95 is broken. Technical analysis: The RSI support #1 at...
Midterm forecast: While the price is below the resistance 60.95, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 60.95 is broken, the short-term forecast -beginning of downtrend- will be invalid. We will close our open trades, if the Midterm level 60.95 is broken. Technical analysis: The RSI support #1 at...
So, I posted a chart this morning and oil has moved further up which is within calculations and if this chart also fails, then I will post my new opinion on Monday. For now, happy trading. My sl is at 64.51 for leg B to C DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
hey guys, from my previous analysis of wti we see that the market has recently touched a very significant potential reversal zone. taking into account overbought rsi we can look for selling opportunities. this head and shoulders pattern is a perfect way to catch a pullback with your targets based on structure. just wait for a bearish violation of a...