Gasoline: Repeating a 1980s pattern. Major bullish break ahead.
We have discovered a 1980s pattern on Gasoline (RB) that is strikingly simalar the recent candle action on 1W. We are rather puzzled though as to which point of the 1980s sequence we are currently at.
In 1980s the Golden Cross (MA50 over MA200) emerged after a Double Bottom. Currently we are past that Golden Cross and the price is approaching the last low on a sequence bearing many similar characteristics with the old pattern. This leads us to believe that the Golden Cross is irrelevant on this pattern and that the price mostly follows the trend of the 1W MA50 into similar benchmarks of the 1980 pattern.
For that reason it may be viable to start taking long positions with a projected Target Zone of 2.5000 - 2.8000.
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Comments and likes are greatly appreciated.
In 1980s the Golden Cross (MA50 over MA200) emerged after a Double Bottom. Currently we are past that Golden Cross and the price is approaching the last low on a sequence bearing many similar characteristics with the old pattern. This leads us to believe that the Golden Cross is irrelevant on this pattern and that the price mostly follows the trend of the 1W MA50 into similar benchmarks of the 1980 pattern.
For that reason it may be viable to start taking long positions with a projected Target Zone of 2.5000 - 2.8000.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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