there could be selling from LH for a 2.5% drop... if fall more, then LL could be formed
price can reach 82.28 if it trade above the 79.79 resistance area
price can bounce from R shoulder(iHnS) for the 1.5%
gold could be a sell from LH for the Low formation
there could be a bounce of 1%(79.77 tp) from 78.87 sup zone
on 1h tf gold possibly will make low at 2315, 2350 may act as res
currently its in downtrend on 1h tf, price can reach 81.61(3%), if trade above RED(79.09)...
as day tf is in uptrend, its could be possible that price can bounce from here around for LH or HH
buying might get started here, for the 82.82 zone to make HL ... if the price stays above 80.80
it seems price can drop at 81.18(3%) in this week, if pushed from here around
according to the channel study, the price could reach the channel's mid(85.25)
there could be shorting while day tf is in uptrend, lets see from where the price gets rejected....
81.81-82.30 can play pivotal role for the next movement, if trade above, then 85.25 could be its target zone and if trade below, then oil can reach 78.81
as its in uptrend, so its possible price can reach next HH after HL, lets see how these marked zone play in coming time
crude oil trading quite high, drop of 2% could be possible as a correction, if trade below...
it is possible price may follow day tf trend and drop some more
good for long to mid of channel and beyond, SL could be last low
nice!! 3 breakouts in single stroke... 68.68 can be reached if sustained this blow... {bull is also there :) }