US Oil is trapped in a Triangle formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a support 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 68.5835 is expected in the short term.
Related Posts
Brent Crude has broken through a level it has tested 6 times in the recent past.
Brent Crude has broken through a support line. It has touched this line numerous times in the last…
Brent Crude is signaling a possible trend reversal on the intraday charts with price not breaching support.
Brent Crude is heading towards the resistance line of a Rising Wedge. If this movement continues, the price…
Natural Gas has broken through resistance of a Falling Wedge. It has touched this line at least twice in the last 11 days.
Natural Gas has broken through a resistance line of a Falling Wedge and suggests a possible movement to…