"Trade idea" UsOil (Wti Oil) by ThinkingAntsOk
1H CHART EXPLANATION:
Main Items we Observe on the Chart:
- Price broke the Ascending Trendline and is currently on a Bearish Corrective Structure, under a Resistance Zone.
- Bearish Divergence on MACD.
- Full ABC Pattern.
So, we expect a down move and, if price breaks the Bearish Corrective Structure at 61,12, price has potential to move down towards the Resistance Zone at 55,30, being careful with the Middle Support Zone at 58,70.
Main Items we Observe on the Chart:
- Price broke the Ascending Trendline and is currently on a Bearish Corrective Structure, under a Resistance Zone.
- Bearish Divergence on MACD.
- Full ABC Pattern.
So, we expect a down move and, if price breaks the Bearish Corrective Structure at 61,12, price has potential to move down towards the Resistance Zone at 55,30, being careful with the Middle Support Zone at 58,70.