USOIL Bearish Triangle Max 15.35
Hello friends,
I hate to be the "bear" of bad news (pun not intended), the price action has created a bearish symmetrical triangle and we will know for sure when this wave is complete. Like most times, when the price hits E wave the price moves in the opposite direction. If this turns out to be what I think it is, then be very careful in this trade.
We all know that the problem is too much supply and nowhere to put it. Until the Covid-19 crisis comes to an end, crude is not needed, we all saw what happened recently, denoted on this chart as "WTF" and we could see this happen again.
There is a slight chance that this triangle could fail and E wave will head towards the target as indicated on this chart at 30.45 a barrel.
Anyways, those who are long, watch out for a reversal, keep an eye out for a breach of the triangle lines and decide what to do from there.
Good Luck!
Cheers!
I hate to be the "bear" of bad news (pun not intended), the price action has created a bearish symmetrical triangle and we will know for sure when this wave is complete. Like most times, when the price hits E wave the price moves in the opposite direction. If this turns out to be what I think it is, then be very careful in this trade.
We all know that the problem is too much supply and nowhere to put it. Until the Covid-19 crisis comes to an end, crude is not needed, we all saw what happened recently, denoted on this chart as "WTF" and we could see this happen again.
There is a slight chance that this triangle could fail and E wave will head towards the target as indicated on this chart at 30.45 a barrel.
Anyways, those who are long, watch out for a reversal, keep an eye out for a breach of the triangle lines and decide what to do from there.
Good Luck!
Cheers!
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.