Break of the rising edge

7 juil. 2020

Huge turndown seems to become. A rising wedge is about to break and the oil should not go above 41.10 or 41.71(the mentioned level in the related idea)! The minimal target lies somewhere 37$ but more downside pressure in the pocket!

Important
Always use stop order, cutting losses, this is one of the essential elements of your risk management and if you would like to be an independent investor then you must be the master of risk management.

Disclaimer
Reserved the right to make changes the content on this analysis at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions.

9 juil. 2020

Note

The wedge has been built up and even though near the end it is not over yet. Waiting for a stronger break down from the wedge. I reduced my position size and I reset my stop order at 41.70. If the next break down coming I will increase the exposure in oil.