Hi traders,
This is a long term view on Crude Oil.
Diagonal line: Multi year resistance
Horizontal line: Multi year Support
We see that there is a Head and Shoulders pattern in the making. Left shoulder, head, and left side of right shoulder has been made already. I believe the next months the last part of the right shoulder wlll be made also. That will result in a price collapse to lower support level, the horizontal line.
Good luck trading.
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This is a long term view on Crude Oil.
Diagonal line: Multi year resistance
Horizontal line: Multi year Support
We see that there is a Head and Shoulders pattern in the making. Left shoulder, head, and left side of right shoulder has been made already. I believe the next months the last part of the right shoulder wlll be made also. That will result in a price collapse to lower support level, the horizontal line.
Good luck trading.
Leave a like and hit follow to receive more ideas.