US OIL - Likely to retrace till 78.25 (45 degree) of more
https://www.tradingview.com/x/mfPanZQp/
Author uses Gann, Fibonacci and Wave Analysis along with his own indicator, which is a leading indicator developed with reference to confluence of all these approaches. It helps to curtail cumbersome process of PTV(Price- Time and Volume Analysis), while investing, swing and intraday trading.
Please refer to Author's earlier post as well.$83.23 is the crucial level where price of US Oil is stuck up. Marked here are two triangles:
1. Bigger Triangle with yellow and
2. Smaller Triangle in Green.
3. Price has already made five waves marked in black. Now counter waves A B & C will be created and then only upward movement is likely to start. Unless there is gap up movement on Monday.
Don's go long till common hypotenuses of both the triangles are broken
Most likely scenario:
1. Oil will retrace back to $78.25 (45Dereei.e. bottom of this triangle, and if that level is not broken, expect recovery from there to $91.
2. Base of Green triangle is broken, bears will dominate and it may retrace to any of the levels marked as pink.
Disclaimer :
The content has been created for educational purpose. Author is not a Registered Analyst with any of the National/ International Regulatory Authority.
Happy to share. Let's grow together
Author uses Gann, Fibonacci and Wave Analysis along with his own indicator, which is a leading indicator developed with reference to confluence of all these approaches. It helps to curtail cumbersome process of PTV(Price- Time and Volume Analysis), while investing, swing and intraday trading.
Please refer to Author's earlier post as well.$83.23 is the crucial level where price of US Oil is stuck up. Marked here are two triangles:
1. Bigger Triangle with yellow and
2. Smaller Triangle in Green.
3. Price has already made five waves marked in black. Now counter waves A B & C will be created and then only upward movement is likely to start. Unless there is gap up movement on Monday.
Don's go long till common hypotenuses of both the triangles are broken
Most likely scenario:
1. Oil will retrace back to $78.25 (45Dereei.e. bottom of this triangle, and if that level is not broken, expect recovery from there to $91.
2. Base of Green triangle is broken, bears will dominate and it may retrace to any of the levels marked as pink.
Disclaimer :
The content has been created for educational purpose. Author is not a Registered Analyst with any of the National/ International Regulatory Authority.
Happy to share. Let's grow together
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