Oil: Awaiting Confirmation of Next Movement

7 天前

Oil: Awaiting Confirmation of Next Movement

OIL appears poised to complete a bearish triangle pattern. However, as long as the price remains above 70.2, caution is warranted, as OIL may rise again and further develop the triangle pattern.

Should the current price level hold strong, we might see a rise to the 72 - 72.5 range before it declines again. If you believe that oil will rise, setting a stop loss below 70.20 can mitigate risks and allow trading the bullish movement within the pattern.

Conversely, if the price breaks below 70.20 or the blue zone, the bearish wave is likely to commence, potentially driving OIL down to 68.75 and 67.50.


You may find more details in the chart!
Thank you and Good Luck!

❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️

6 天前

交易結束：目標達成

Today oil confirmed the bearish breakout and moved down in a clear and aggressive way.