Perhaps the head and shoulders?!
Price has been hugging the bottom of the channel , we have now broken out of the downtrend from early Oct, so the downside is limited, if price falls below channel there looks to be strong support around Solid support at eclipse area.
If broken, then more pain. A Gartley formed on the 30M chart shows price potential rally to the 57 handle and then a correction retracement back to Perhaps the head and shoulders?! I will wait and hope the idea is interesting, I like it. Crude Oil Brent pullback trading. Brent Oil , Santa Rally? Crude Oil in crisis. Brent Oil - Observations. One of the advantages is transportation since this type of oil is waterborne.
Light Crude Oil Futures. From the creators of MultiCharts. Now this idea is plan for a new entry or a new position to long usoil. USOIL could probably hit 50 first before making any strong correction for new position for Bullish sentiment has returned to oil markets in , with Saudi Arabia cutting production while China and the U.
After oil put in an incredible The price of oil is finishing the corrective structure a-b-c with wave c completing a possible ending diagonal. It could reach out to 50 area. The wave c is already longer than wave a, therefore we will see another drop afterwards. The minimum target for the anticipated drop is located at the earlier low at There looks to be a morning star candle pattern on weekly chart for crude oil and 5 waves completed at mid 42 level, following from this idea bouncing from the.
USOIL has a high probability to have a reverse morning star weekly bull signal. This weekly bull signal could help it correct up to zone the purple zone. And we have tried two trades to long usoil recently. One with TP1 hit and one is still onging with tp1 hit already. Stochastic 89,5,3 is also approaching support where we might see