Last month, crude oil has reached a high of 130.00 level, surpassing the highs back in 2011. Although fundamentals point to a bullish market, technicals show a bit of a bearish market. After price reaching a high of 130, a bearish impulse immediately took place, dropping the price back to $94 level. From there, we can see that price has consolidated and formed a descending triangle pattern.
As of now, buyers should look for at least a breakout of the pattern to the upside, perferably supported by strong bullish candles. Sellers should look for a breakout of $94 bottom level, which is the criteria for a bearish continuation.
Trade with care because any new sudden announcement from the government or news from the war could easily shake this market with big volatility.
As of now, buyers should look for at least a breakout of the pattern to the upside, perferably supported by strong bullish candles. Sellers should look for a breakout of $94 bottom level, which is the criteria for a bearish continuation.
Trade with care because any new sudden announcement from the government or news from the war could easily shake this market with big volatility.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。