Oil to hellHello Peeps, happy end of month to everyone and congrats for each and everyone of you who followed the plan.
Oil has been in a descending channel since July 2024 and "TODAY" has been an amazing day for "Shorts" in the market.
As per the chart, oil has failed to hold 76 levels, which has attracted bears in the market.
Followed by a sharp drop to 75.6, oil has failed to regain territory and pump again, which has made bears even more interested in the market.
A first drop from 75.6 till 74.8 took place which continued to the downside until 73.8.
73.8 which an important supp/resist failed to hold which took us on a ride to 73.3 levels, which is a very important level.
From there we can observe that oil jiggled multiple times towards 73.8 but failed to breakthrough.
We'll thats a "legit bear flag", easy entry to take.
short the market wherever it is and expect a drop below 72.8, either by EOM (in a couple of hours) or by Monday morning.
I am expecting a drop to 69 levels, as per the chart. the liquidity levels are attractive there.
Completion of cycle ABCD ends at 69.3.
Trade safe and green/red, keep emotions aside!
