Oil rallied from 26.05 to 51.64 for 119 days. Then it topped at June 8th and started the correction until now. Where is the target for this correction? A potential cypher and a bat pattern are forming. Target for this two harmonic pattern are extremely the same which forms a strong potential reversal zone at 40.2~40.8.
Pay attention to the decline channel and the red decline line.
Good luck for everyone!
Kommentar
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Oil comes to the PRZ. Watch carefully what it will move following!