WTI resistance break: still long. But...
Updated
Hi guys!!!
Remember the Friday rectangle? Well, yesterday after the strong gap down, prices have repeated the same movement: pullback on the support of 73 and resistance testing. This time the break happened successfully, with the simultaneous breaking of the descending trend line on the RSI: LONG signal. Take a look at my daily chart for the next target.
Remember the Friday rectangle? Well, yesterday after the strong gap down, prices have repeated the same movement: pullback on the support of 73 and resistance testing. This time the break happened successfully, with the simultaneous breaking of the descending trend line on the RSI: LONG signal. Take a look at my daily chart for the next target.
Comment
This is the situation on the daily chart: the next target is 75.20. But take a look to the vertical lines: the next cycle is about to close, so there may be an incoming correction. So take advantage of long only for fast operations, and don't expose your money too much during this delicate situation.
Comment
Target reached at 75.20!!! Good trade :)See you next days for updates, waiting for the end of retracement
Trade closed: target reached
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.