LIGHT CRUDE OIL price analysis - 60 % gains possible!
Hello everyone,
Today I'm going to take a look at the oil chart.
- The oil price has risen significantly recently
- A fundamental trend reversal is in the offing
- The last trend high has been approached, but not yet overcome.
- The price is at very prominent resistances
- I now expect a longer-term correction!
The plan
- I would like to buy at the golden pocket of the last relevant long movement, ideally around 45$.
- The zone is supported by a horizontal support.
- My target zone is at the golden pocket of the penultimate short move at approx. 80$.
- If the long-term trend line can be overcome, there is the option to extend the trade for the longer term.
With this in mind,
Greetings & Keep it simple
Max
Today I'm going to take a look at the oil chart.
- The oil price has risen significantly recently
- A fundamental trend reversal is in the offing
- The last trend high has been approached, but not yet overcome.
- The price is at very prominent resistances
- I now expect a longer-term correction!
The plan
- I would like to buy at the golden pocket of the last relevant long movement, ideally around 45$.
- The zone is supported by a horizontal support.
- My target zone is at the golden pocket of the penultimate short move at approx. 80$.
- If the long-term trend line can be overcome, there is the option to extend the trade for the longer term.
With this in mind,
Greetings & Keep it simple
Max
