The heat is on!
Either the bulls launch an offensive, or we see prices drop below $30 a barrel. Should the bulls fail in fulfilling this task and prices fall below the support of $36.49, further downward movements are imminent. Invalidation of the underlying scenario occurs below $34.36. Therefore stops for Long ambitions should be placed just below the mentioned support. By dropping below, this support prices in the area of $29 are on the map. However, this would only be a detour, as we expect higher prices towards the end of the year. To confirm a bullish breakout, we need prices above the $43.80 resistance line marking the high of wave b in yellow.
Happy Friday trading! 🎉
Either the bulls launch an offensive, or we see prices drop below $30 a barrel. Should the bulls fail in fulfilling this task and prices fall below the support of $36.49, further downward movements are imminent. Invalidation of the underlying scenario occurs below $34.36. Therefore stops for Long ambitions should be placed just below the mentioned support. By dropping below, this support prices in the area of $29 are on the map. However, this would only be a detour, as we expect higher prices towards the end of the year. To confirm a bullish breakout, we need prices above the $43.80 resistance line marking the high of wave b in yellow.
Happy Friday trading! 🎉
📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
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🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.