Time frame - Long Term
Overall Trend - Downtrend.
With crude oil potentially forming a rounding top, we may expect the price to go down until A ($20+) by Dec 2020 - Feb 2020.
Maximum upside for crude is at 53.50 - 56.50 range.
At the current price, trader are advise to trade in range.(Trade support resistance)
Avoid Friday or have tight stop loss on Friday as the price has a higher probable crash on one of that day due to black swan.
Overall Trend - Downtrend.
With crude oil potentially forming a rounding top, we may expect the price to go down until A ($20+) by Dec 2020 - Feb 2020.
Maximum upside for crude is at 53.50 - 56.50 range.
At the current price, trader are advise to trade in range.(Trade support resistance)
Avoid Friday or have tight stop loss on Friday as the price has a higher probable crash on one of that day due to black swan.
Trade active
Short has been activated since the consolidated range has been broken.Note
with the latest at strong support at 35.70. We will see this pattern to continue iwth up and down movement till next year along side with crude oil cycle.
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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.
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.