Long

The price may touch $80

Updated

There is a prerequisite here, must first break through the 73~77 range.

If the price cannot break through 71~73, it may change into another trend.

Note

Note

If you have a long position in your hand, you need to be cautious.
The current trend is not very good, it should be tested downwards. There seems to be a little signal in the 1D chart.

Note

Next, we need to focus on 68, 67.5~67, if it is an upward trend, then the backtest should not be lower than 65,Otherwise, it may be a standard Wolfe wave pattern

Note

If it’s a Wolfe wave pattern, it’s not necessarily a bad thing for bulls, which means lower prices and greater profit margins.

Note

Notice! There is a problem with the current trend of crude oil. The bearish pattern when moving on the left side, the bearish AB=CD pattern and a Wolfe wave pattern indicate that crude oil prices need to be adjusted downwards. Extending from point D downward, combined with AB=CD, it may be a potential bullish shark pattern, but the prerequisite is that after the price adjustment is completed, the target range is about 55-50

usdclub

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.