On the daily chart Crude Oil has been traded for the last 7 weeks on higher levels.
These increasing prices are still amid a bigger falling trend channel (red channel) and with this from technical perspective only seen as a smaller trend evolution (green channels).
Although further falling prices may be seen, on mid-term perspective a decelerating falling momentum can be observed (Black descending trend line = Bullish Wedge)
Important: :-)
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
Please remind yourself that this is just my personal view on the market and you always should do your own analysis before trading. My Analysis should not serve as any recommendation to buy or to sell. My analysis are just my ideas and opinion how market could develop.
These increasing prices are still amid a bigger falling trend channel (red channel) and with this from technical perspective only seen as a smaller trend evolution (green channels).
Although further falling prices may be seen, on mid-term perspective a decelerating falling momentum can be observed (Black descending trend line = Bullish Wedge)
Important: :-)
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
Please remind yourself that this is just my personal view on the market and you always should do your own analysis before trading. My Analysis should not serve as any recommendation to buy or to sell. My analysis are just my ideas and opinion how market could develop.
