Oil: Head & Shoulders Pattern,Heading Back to the $60 Territory?

アップデート済
Hi Fellow Realistic Traders. Here's my latest price action analysis on Oil!

The oil market has recently witnessed a significant head and shoulders pattern breakout, signaling a clear shift towards a bearish reversal scenario. Subsequently, the price has persistently descended below the EMA200 line, affirming the establishment of a robust downtrend. Further underscoring this trend, the Stochastic indicator revealed a bearish divergence, suggesting a potential sustained downward movement towards our target area.

It is essential to note that the analysis will no longer hold validity once the target/resistance area is reached.

Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on UKOIL."
ノート
Breakout of Rising Wedge on H4 Timeframe, Indication of further bearish movement
スナップショット
ノート
Breakout impulsively of the multiple rejection area, expect further downside movement
スナップショット
トレード終了: 利益確定目標に到達
Hit the first target, we expect a minor correction before continuing its downward movement
スナップショット
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