Oil is tricky here and I got two scenarios for it:
1- Bullish: Oil finishing or finished just now wave 3 and will retrace for Wave 4 before heading higher +80
2- Bearish: If I wanna connect the bearish analysis I have on SPX 500 to Oil then I can count the upside move from March low as ABC corrective and we need to have another low
In all cases Oil should go down as now!
TP: 59-52
TP: zero oops haha
GOODLUCK!
1- Bullish: Oil finishing or finished just now wave 3 and will retrace for Wave 4 before heading higher +80
2- Bearish: If I wanna connect the bearish analysis I have on SPX 500 to Oil then I can count the upside move from March low as ABC corrective and we need to have another low
In all cases Oil should go down as now!
TP: 59-52
TP: zero oops haha
GOODLUCK!
Trade active
EDT on the 5th of the 5thTrade active
RSI MONTHLY CHART: 1- Major Resistance
2- Fibo Resistance from 2018 high to 2020 low
3- At Major point where A=C
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RSI WEEKLY CHART:EDT AND SUPPORT AT 60 LEVEL.
Trade active
RSI DAILY CHART:DOUBLE TOP AND RSI NEG DIV
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Ready for first drop..
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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.