Oil Downwards Continuation to 67
Updated
Hi,
With Oil spiral down continuation we can expect it to breach 70 area down to 67. We can measure the downwards movement leg as 260 pips (see price measurement) the same size as the first leg of the rising wedge (orange lines).
Look out for support areas (purple) to possibly reject the price for it to retrace up to 70.
TP 67.50-67.00
SL 70.40-70.60
With Oil spiral down continuation we can expect it to breach 70 area down to 67. We can measure the downwards movement leg as 260 pips (see price measurement) the same size as the first leg of the rising wedge (orange lines).
Look out for support areas (purple) to possibly reject the price for it to retrace up to 70.
TP 67.50-67.00
SL 70.40-70.60
Trade closed: stop reached
We reached SL at area 70.60.
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