Crude Oil has bottomed, expect this target.
Hello friends,
This chart is self-explanatory with the exception of; why did I note the double bottom . I just want to point out that even though we are extremely oversold on the weekly, there is always the possibility of a lower low. If that happens, then be assured that we will see a massive upswing towards levels not mentioned on this chart.
IMO , we may test previous lows and bounce about looking for direction for which way crude will go. I do expect at some point that we will see crude move upwards towards the target as indicated on this chart.
Just be careful and look for a break out before you throw down.
Trade Safe!
Cheers!
This chart is self-explanatory with the exception of; why did I note the double bottom . I just want to point out that even though we are extremely oversold on the weekly, there is always the possibility of a lower low. If that happens, then be assured that we will see a massive upswing towards levels not mentioned on this chart.
IMO , we may test previous lows and bounce about looking for direction for which way crude will go. I do expect at some point that we will see crude move upwards towards the target as indicated on this chart.
Just be careful and look for a break out before you throw down.
Trade Safe!
Cheers!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.