CL has clearly break below the rising wedge and there is a high chance it is trying to form the right shoulder of the inverse head and shoulder pattern. But it going to take time as it is at the support area of ichimoku cloud.
In the daily chart, CL is consolidating below the descending triangle. Could it be it is trying to going back to the descending triangle?
In the 1hr chart, there seems to be a falling wedge in formation. If true, price may go back to the descending triangle in the daily chart. We shall see next week how it turns out.
Monthly support/resistance for Jul: 48.75, 48.52, 48.62, 49.06
In the daily chart, CL is consolidating below the descending triangle. Could it be it is trying to going back to the descending triangle?
In the 1hr chart, there seems to be a falling wedge in formation. If true, price may go back to the descending triangle in the daily chart. We shall see next week how it turns out.
Daily support/resistance on 25th Jul: 44.36, 44.29
Weekly support/resistance for 25th - 29th Jul: 45.29. 44.60Monthly support/resistance for Jul: 48.75, 48.52, 48.62, 49.06
No comments:
Post a Comment