After buying US Crude for many weeks, we have seen one final push up to highs of over $65 per barrel this week before the news died down and it appears we have avoided WW3.
Price has now broken the intraday bullish trendline and made a nice lower low on the 4hr timeframe.
Option 1 = Pullback in to broken TL, lower high to form, reject the 0.618 fib and $63 price level. Enter short in the hopes of new lower lows to be made.
Option 2 = Price consolidates here for a few days before continuing lower. (flag pattern set up)
Prediction, new lower lows to be made at some point. Price to tech $55 support zone as a final TP.
Price has now broken the intraday bullish trendline and made a nice lower low on the 4hr timeframe.
Option 1 = Pullback in to broken TL, lower high to form, reject the 0.618 fib and $63 price level. Enter short in the hopes of new lower lows to be made.
Option 2 = Price consolidates here for a few days before continuing lower. (flag pattern set up)
Prediction, new lower lows to be made at some point. Price to tech $55 support zone as a final TP.
Trade closed: target reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.