BCOUSD - Criss-Cross Trendlines Confirms Change Of Trend?
Brend Crude Oil has been somewhat sideways and stepping higher in the past months, but its at the point of testing the long term trend. Here we anticipate the long term resistance trendline is broken and the previous broken support trendline is restored.
LONG - BCOUSD
SL: 63.097 (Suggested by our algorithmic system)
TP: 68.21 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Long-term resistance line broken, and previous support trendline is restored.
2. Volume indicators run in line with price action.
---------- Chart Drawings ----------
Blue Dotted Line: Broken Support Trendline
Red Dotted Line: Broken Resistance Trendline
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Blue Rectangle Box: Support Level
Red Rectangle Box: Resistance Level
Blue Arrow Line: Bullish Divergence
Red Arrow Line: Bearish Divergence
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co/bHDFWBL (Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
LONG - BCOUSD
SL: 63.097 (Suggested by our algorithmic system)
TP: 68.21 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Long-term resistance line broken, and previous support trendline is restored.
2. Volume indicators run in line with price action.
---------- Chart Drawings ----------
Blue Dotted Line: Broken Support Trendline
Red Dotted Line: Broken Resistance Trendline
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Blue Rectangle Box: Support Level
Red Rectangle Box: Resistance Level
Blue Arrow Line: Bullish Divergence
Red Arrow Line: Bearish Divergence
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co/bHDFWBL (Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
Trade active
SL adjusted to 65.322 to lock in some profit.Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.