USOIL Market Outlook
Hi friends, I hope y'all having a profitable week.
As you can see that the price is currently running above the double bottoms neckline and in between the short-term moving averages. Before it got to where its at, the price bearish broke and didn't retest the Weekly Neckline 2, 2nd Daily Key, and 1st Weekly Key Lvl - giving us our bullish targets; on the other hand, it gave us our bearish targets by previously bullish breaking without retesting the 5th Daily Key Lvl and Daily H&S Neckline. So, if the price bounces off the Mini Daily H&S Neckline with a bearish reversal pattern that leads the to break and retest the 8 MA, we'll be expecting a drop for the bearish targets. If the price bullish breaks and retests the Mini Daily H&S Neckline together with the double bottom neckline and bullish crossed short-term MA's with the patterns accumulation phase, we'll be expecting a 3-level uptrend to the bullish targets.
Just a friendly reminder:
Trading is not gambling if you know what you’re doing. It is gambling if you’re just throwing money into a deal and praying.
That's it for today. I hope you found value in this article. If you have a different concept in mind, feel free to share it in the comments section. I'd love to know your thoughts!
Stay Blessed Baby,
Sphatrades.
As you can see that the price is currently running above the double bottoms neckline and in between the short-term moving averages. Before it got to where its at, the price bearish broke and didn't retest the Weekly Neckline 2, 2nd Daily Key, and 1st Weekly Key Lvl - giving us our bullish targets; on the other hand, it gave us our bearish targets by previously bullish breaking without retesting the 5th Daily Key Lvl and Daily H&S Neckline. So, if the price bounces off the Mini Daily H&S Neckline with a bearish reversal pattern that leads the to break and retest the 8 MA, we'll be expecting a drop for the bearish targets. If the price bullish breaks and retests the Mini Daily H&S Neckline together with the double bottom neckline and bullish crossed short-term MA's with the patterns accumulation phase, we'll be expecting a 3-level uptrend to the bullish targets.
Just a friendly reminder:
Trading is not gambling if you know what you’re doing. It is gambling if you’re just throwing money into a deal and praying.
That's it for today. I hope you found value in this article. If you have a different concept in mind, feel free to share it in the comments section. I'd love to know your thoughts!
Stay Blessed Baby,
Sphatrades.
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