Hi traders,
This is a long term view on Crude Oil.
Diagonal line: Multi year resistance
Horizontal line: Multi year Support
We see that there is a Head and Shoulders pattern in the making. Left shoulder, head, and left side of right shoulder has been made already. I believe the next months the last part of the right shoulder wlll be made also. That will result in a price collapse to lower support level, the horizontal line.
Good luck trading.
Leave a like and hit follow to receive more ideas.
This is a long term view on Crude Oil.
Diagonal line: Multi year resistance
Horizontal line: Multi year Support
We see that there is a Head and Shoulders pattern in the making. Left shoulder, head, and left side of right shoulder has been made already. I believe the next months the last part of the right shoulder wlll be made also. That will result in a price collapse to lower support level, the horizontal line.
Good luck trading.
Leave a like and hit follow to receive more ideas.
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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.