Everyone's so bullish all the sudden.
Likely yearly bottom; otherwise, we'll test the bottom neon line, and then go higher. Things are looking ugly. Trade cautiously. Ignore target on Feb. Was checking % decline.
www.google.com I must be crazy.
Buy at green trend line. Sell at red trend line. Breakout consolidation set to 4h. If breakout detected, Go long if it broke red. Go short if it broke green. Would require a major news to break current support.
Thickness of line suggests strength of support (green) and resistance (red). Thicker = stronger.
For longs , sell at blue region. For shorts , patience than excitement at bear traps. Likely better entry at blue regions. Should price close above blue region by EOD 8.22nd, we will retest 51.50. Should price reject harshly, expect to retest 40. My ultimate 'hopeful' target is oversold to 37-38. Check out 1WK chart. It suggests another leg up.
Red line is resistance. Green line is support.
Oil bets looking 1 month forward.
Not many patterns here, so I am asserting short position. Likely test resistance, but resistance is already a downtrend. Target: $35.10 - 34.50
Likely new channel formation. Falling wedge could mean bullish. However, high pressure towards major support.