Crude Oil is trying to form an inverse H&S but the neckline at 54.70 is still holding up.
The area between 54.70 and 50.76 has been a range market previously (green box) and the price seem to be struggling now too.
However, as long as the price keeps making higher lows, the bullish sentiment still holds up. Only a break below 50.76 would change the outlook.
The Fib levels nicely align with natural support and resistance as well, not really adding anything to the analysis, but supporting the decision making process. 138 and 161 could be interesting upside targets if the price manages to break out higher.
The area between 54.70 and 50.76 has been a range market previously (green box) and the price seem to be struggling now too.
However, as long as the price keeps making higher lows, the bullish sentiment still holds up. Only a break below 50.76 would change the outlook.
The Fib levels nicely align with natural support and resistance as well, not really adding anything to the analysis, but supporting the decision making process. 138 and 161 could be interesting upside targets if the price manages to break out higher.
Nota
Still teasing and hovering around 54.70Last week's close showed a breakout
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
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.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
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.