US Oil is trapped in a Channel Down formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a resistance line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 74.4324 is expected in the short term.
ARTÍCULOS RELACIONADOS
US Oil breakout from a Rising Wedge trade setup. Will it continue this trend to hit the target price?
US Oil has broken through the support line which it has tested twice in the past. We have…
Gold Spot formed a Channel Up on the 30 Minutes chart. Retest of resistance in sight.
Emerging Channel Up detected on Gold Spot – the pattern is an emerging one and has not yet…
If you’re short Natural Gas you should be aware of the rapidly approaching level of 3.1500
A strong resistance level has been identified at 3.1500 on the 15 Minutes Natural Gas chart. Natural Gas…