Oil has been riding that trendline to new heights, but the more times a trendline is tested, the weaker it gets.
this theory has held true once more as price has broken below this MAJOR trendline.
A break of structure can also be spotted as price retests previous areas of support as resistance.
It looks like its time to sell as price seems to have completed the wave sequence of a bearish continuation pattern(bearish flag pattern).
CHECK THE LINKED IDEA FOR THE FULL SETUP
USOIL
Happy trading!!
this theory has held true once more as price has broken below this MAJOR trendline.
A break of structure can also be spotted as price retests previous areas of support as resistance.
It looks like its time to sell as price seems to have completed the wave sequence of a bearish continuation pattern(bearish flag pattern).
CHECK THE LINKED IDEA FOR THE FULL SETUP
USOILHappy trading!!
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Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.