This is pretty self explanatory with a resistance at play along with two reversal patterns in the diamond and H&S which makes me believe that we're to see a correction.
Very volatile at the moment so this could shoot hard in either side.
Very volatile at the moment so this could shoot hard in either side.
Note
This is the monthly outlook for Oil where we can see that it has previously tested some serious resistance levels and is stuck between two important decisions (RSI is ready for a breather however)Note
Closer up on the weekly we can see the rejection at the resistance which has been most recently tested in Oct 18.Trade closed: stop reached
It hit my final target but bet closed before it could see my predicted correction
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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.