Crude Oil forecast - Why we will fall
If you look at the picture we can see zone of interest that was acting as support. However buyer wasn't strong enough to hold the price and we broke down.
Right now many people got trapped with local trendline and squeezing to the zone. They opened longs but it's likely that was just a retest. I expect continuation of fall with first target at 90$ unless black swan comes into play.
Bullish scenario would be squeezing to the zone and accumulation for 1-2 days. Then we will have a chance to break through it and hold strongly on top.
What do you think of this idea? What is your opinion? Share it in the comments📄🖌
If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
Right now many people got trapped with local trendline and squeezing to the zone. They opened longs but it's likely that was just a retest. I expect continuation of fall with first target at 90$ unless black swan comes into play.
Bullish scenario would be squeezing to the zone and accumulation for 1-2 days. Then we will have a chance to break through it and hold strongly on top.
What do you think of this idea? What is your opinion? Share it in the comments📄🖌
If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
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