Exhausted bulls
Too much evidence is accumulating that hints a short in crude. This fib fan has some history and the importance of its angles has been proven. We have now a clear resistance on the 0.618 angle and momentum and volume also peaked. The long term target is on the 0.5 angle with good possibilities of continuing further down.
On the 4h time frame there is a head and shoulders pattern developping and if neckline breaks, target is around 61.
Good luck and thanks for your comments.
On the 4h time frame there is a head and shoulders pattern developping and if neckline breaks, target is around 61.
Good luck and thanks for your comments.
Note
Angle retest. Note the daily RSI divergence.Trade closed: target reached
Note
We're again at the same angle.Note
And again at the same angle !
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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.