Crude Oil weekly chart study

11 thg 9, 2018

Crude Oil weekly chart study.

We see that the Fibonacci levels as well as the pitchfork boundary coincides and shows a strong resistance and a possible price reversal zone. RSI divergence also substantiates our bias. We will confirm the beginning of a new downtrend only after the wedge breakdown.

2 thg 10, 2018

Ghi chú

Moving towards the wedge top

4 thg 10, 2018

Ghi chú

Could face strong resistance hereafter (76-78)

23 thg 10, 2018

Giao dịch đang hoạt động

Rising wedge broken

13 thg 11, 2018

Ghi chú

Massive fall since the rising wedge was broken and Crude hit the pitchfork resistance.

15 thg 11, 2018

Ghi chú

Levels to watch out for next ---> 54-52 zone and 47-49 zone

20 thg 11, 2018

Ghi chú

Crude oil currently at 54-52 zone. Expecting an intermediate bounce from here. One should avoid going long as the major trend is down. Short sellers can book profits here and wait for a bounce before taking fresh short position.

24 thg 11, 2018

Ghi chú

Crude oil closed below 200 week SMA which is a further sign of weakness.

13 thg 5, 2019

Ghi chú

.
Moving exactly as expected.
Could face resistance at the pitchfork boundaries as plotted.

24 thg 5, 2019

Ghi chú

After struggling at the pitchfork boundaries for almost a month now Crude oil is falling sharply

9 thg 3, 2020

Ghi chú

.
Moving exactly as plotted.

9 thg 3, 2020

Ghi chú

At pitchfork median

20 thg 4, 2020

Ghi chú

Moving towards the pitchfork bottom