Last post on Crude Oil (http://markettechnicalview.blogspot.com/2011/12/crude-oil-wti-technical-analysis_09.html ) stated that the first bearish target at $98.00 was achieved and a bounce should occur (and it did).
As it turns out now, the $97.60 - $98.00 area created a strong support that was tested twice, forming a double bottom that could generate a bullish swing in the next days.
The last part of the rising wedge and the following price action formed a bearish channel (between T1 and T2 trend lines) that describes the market.
I plotted on the chart the 2 most possible price evolutions in the future couple of days. Whatever will be, I look for a break-retest-continuation price action in order to generate a good trade scenario.
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