Oil prices have completed inverse head and shoulder formation. On the weekly chart we can clearly see prices tested neckline level of $51.90
A successful breach of inverse head and shoulder would give us upside target of $77.70, which as of now appears over ambitious and could possible happen only if we get a bigger OPEC output cut.
On the other hand, failure to reach a deal at a time would mark failure at neckline level, which in itself is a highly bearish formation.
A successful breach of inverse head and shoulder would give us upside target of $77.70, which as of now appears over ambitious and could possible happen only if we get a bigger OPEC output cut.
On the other hand, failure to reach a deal at a time would mark failure at neckline level, which in itself is a highly bearish formation.
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.
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.