Crude oil - AP case
Chart based on AP running from 1998 low, with lot of significant interactions through decades lasting bulltrend.
Currently WL1 broken, tested and rejected by bearish price action - 5 dojis followed by failed breakout.
Close sitting at daily bearflag and ichimoku cloud support.
If 44/43 figure goes, there is nothing below and downtrend can continuate lower.
Target would be at WL2 around 32 level, neverthesess, Saudies see ideal level of Brent at 80 bucks again, so let's see.
Currently WL1 broken, tested and rejected by bearish price action - 5 dojis followed by failed breakout.
Close sitting at daily bearflag and ichimoku cloud support.
If 44/43 figure goes, there is nothing below and downtrend can continuate lower.
Target would be at WL2 around 32 level, neverthesess, Saudies see ideal level of Brent at 80 bucks again, so let's see.
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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.