Possibly as we have two potential bullish patterns in play
1. A Bullish Butterfly pattern with targets of $78 and $86.
2. A Bullish Wolfe Wave with an $80 and $86 target
So how do we play this ??
I think we will have a chance for WTI to fall to a lower price, as the US election and economic uncertainty may push WTI's price lower. On the other side middle east tensions could escalate.
That said the $69-70 area would be decent purchase... better still at $66-67, as this has previously been a demand zone.
Momentum also looks positive and exhibits some divergence.
So If it happens then it happens.
I will watch and report back.
Not investment advice. Do your own due diligence
S.
1. A Bullish Butterfly pattern with targets of $78 and $86.
2. A Bullish Wolfe Wave with an $80 and $86 target
So how do we play this ??
I think we will have a chance for WTI to fall to a lower price, as the US election and economic uncertainty may push WTI's price lower. On the other side middle east tensions could escalate.
That said the $69-70 area would be decent purchase... better still at $66-67, as this has previously been a demand zone.
Momentum also looks positive and exhibits some divergence.
So If it happens then it happens.
I will watch and report back.
Not investment advice. Do your own due diligence
S.
Note
Getting closer.. still want bottom panel to uptick...
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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.