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Megaphone continuation or megaphone rejection?
CFDs on WTI Crude Oil
Short
Megaphone continuation or megaphone rejection?
By Blue_Eyed_Owl
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Oct 24, 2021
4
Cheer
Cheer
Oct 24, 2021
Clear megaphone pattern on the 2 and 4 hour charts.
The price just touched the 5th resistance point. On the shorter 5 min graph the price gapped downwards after passing resistance. Odd to see.
Could either rise significantly from here or its about to reject heavily with a target price around $80.
Covid is rising worldwide so I think upper price movement is limited worldwide but I may be slightly premature in saying this.
Trend Analysis
Crude Oil WTI
Blue_Eyed_Owl
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