So this crude oil looks like it is confused, actually not... A wolfwave at tops and bottoms are very nice indicators of reversals. The monthly hammer is an indicator for the price could be rejected to go lower, but retesting the low is not rule out!
This one I keep an eye on, if it breaks down the lower support it might plunge. At least 41 will be visited and then it will retest the support, which might become a resistance there unless the price is allowed to get back in the trend-line again.
Personally I wait untill support because I can see a bullflag at a perfect fib-level..
This one I keep an eye on, if it breaks down the lower support it might plunge. At least 41 will be visited and then it will retest the support, which might become a resistance there unless the price is allowed to get back in the trend-line again.
Personally I wait untill support because I can see a bullflag at a perfect fib-level..
