Crude Oil weekly chart study

11 sept. 2018

Crude Oil weekly chart study.

We see that the Fibonacci levels as well as the pitchfork boundary coincides and shows a strong resistance and a possible price reversal zone. RSI divergence also substantiates our bias. We will confirm the beginning of a new downtrend only after the wedge breakdown.

2 oct. 2018

Note

Moving towards the wedge top

4 oct. 2018

Note

Could face strong resistance hereafter (76-78)

23 oct. 2018

Transaction en cours

Rising wedge broken

13 nov. 2018

Note

Massive fall since the rising wedge was broken and Crude hit the pitchfork resistance.

15 nov. 2018

Note

Levels to watch out for next ---> 54-52 zone and 47-49 zone

20 nov. 2018

Note

Crude oil currently at 54-52 zone. Expecting an intermediate bounce from here. One should avoid going long as the major trend is down. Short sellers can book profits here and wait for a bounce before taking fresh short position.

24 nov. 2018

Note

Crude oil closed below 200 week SMA which is a further sign of weakness.

13 mai 2019

Note

.
Moving exactly as expected.
Could face resistance at the pitchfork boundaries as plotted.

24 mai 2019

Note

After struggling at the pitchfork boundaries for almost a month now Crude oil is falling sharply

9 mars 2020

Note

.
Moving exactly as plotted.

9 mars 2020

Note

At pitchfork median

20 avr. 2020

Note

Moving towards the pitchfork bottom