Crude Oil - sell on 1H - good risk/reward ratio - TP 57 $
market price broke this morning the up trend line from weekend breakout 10 days ago. We need a sell confirmation to make this setup valid.
If the next 1H candle close above the up trend line the idea is invalid. Should the next two or three 1H candles close under the trend line we can expect fast down movement to at least take profit 1 which is first stronger support.
-Market volume is getting lower steady which indicates a down trend continuation
-regular RSI reached down trend line - expect price down movement if the RSI line doesn't jump above trend resistance line
-stochastic RSI is already heavy overbought and baselines going to cross bearish which indicates incoming sell volume
-market price reached 100 day moving average (blue line) and 50 day moving average (yellow line) which is resistance area
good luck to all and don't forget to like/share and feel free to leave a comment :)
If the next 1H candle close above the up trend line the idea is invalid. Should the next two or three 1H candles close under the trend line we can expect fast down movement to at least take profit 1 which is first stronger support.
-Market volume is getting lower steady which indicates a down trend continuation
-regular RSI reached down trend line - expect price down movement if the RSI line doesn't jump above trend resistance line
-stochastic RSI is already heavy overbought and baselines going to cross bearish which indicates incoming sell volume
-market price reached 100 day moving average (blue line) and 50 day moving average (yellow line) which is resistance area
good luck to all and don't forget to like/share and feel free to leave a comment :)
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The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
