Oil: Head & Shoulders Pattern,Heading Back to the $60 Territory?
已更新
Hi Fellow Realistic Traders. Here's my latest price action analysis on Oil!
The oil market has recently witnessed a significant head and shoulders pattern breakout, signaling a clear shift towards a bearish reversal scenario. Subsequently, the price has persistently descended below the EMA200 line, affirming the establishment of a robust downtrend. Further underscoring this trend, the Stochastic indicator revealed a bearish divergence, suggesting a potential sustained downward movement towards our target area.
It is essential to note that the analysis will no longer hold validity once the target/resistance area is reached.
Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on UKOIL."
The oil market has recently witnessed a significant head and shoulders pattern breakout, signaling a clear shift towards a bearish reversal scenario. Subsequently, the price has persistently descended below the EMA200 line, affirming the establishment of a robust downtrend. Further underscoring this trend, the Stochastic indicator revealed a bearish divergence, suggesting a potential sustained downward movement towards our target area.
It is essential to note that the analysis will no longer hold validity once the target/resistance area is reached.
Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on UKOIL."
注释
Breakout of Rising Wedge on H4 Timeframe, Indication of further bearish movement注释
Breakout impulsively of the multiple rejection area, expect further downside movement交易结束：到达目标
Hit the first target, we expect a minor correction before continuing its downward movement 
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