Brent Crude OilLong
Oil could rally hard
Oil is forming a bullish falling wedge pattern. If a breakout occurs, it will trigger a major bull run toward the big red or 200-day MA and beyond.
Oil found support in the summer area of support and bounced nicely. Now, it is trying to break the pattern and continue to rise.
MACD has already shown a line cross, indicating bullish momentum, while RSI is also moving up.
Technical analyses indicate that if a breakout occurs, the move will be massive.
Macroanalyses show there is a huge chance for that. The Fed lowering rates, the dollar dropping like a stone, and the closure of the Red Sea could trigger a massive move in oil.
Therefore, a buy trigger will almost certainly occur within days or even today.
Oil found support in the summer area of support and bounced nicely. Now, it is trying to break the pattern and continue to rise.
MACD has already shown a line cross, indicating bullish momentum, while RSI is also moving up.
Technical analyses indicate that if a breakout occurs, the move will be massive.
Macroanalyses show there is a huge chance for that. The Fed lowering rates, the dollar dropping like a stone, and the closure of the Red Sea could trigger a massive move in oil.
Therefore, a buy trigger will almost certainly occur within days or even today.
Consistency is the key of success....
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Consistency is the key of success....
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.