Using angles of past trend and analysis of all gravestone doji since 2008, expecting oil to go to 57 by end of the week and make it to 50$ next week.
I used a 47 degree angle to make possible red channel, it could be a 60 degree channel and more aggresive move on oil, due to perfect doji.
Possible targets:
tp1: 57
tp2: 54
tp3: 52
tp4: 50
tp1, tp2 expected to hit by end of the week.
tp3, tp4 expected to be hit by end of next week.
This trend is canceled if oil stays above trendline tomorrow and stays above 60$ this week.
I used a 47 degree angle to make possible red channel, it could be a 60 degree channel and more aggresive move on oil, due to perfect doji.
Possible targets:
tp1: 57
tp2: 54
tp3: 52
tp4: 50
tp1, tp2 expected to hit by end of the week.
tp3, tp4 expected to be hit by end of next week.
This trend is canceled if oil stays above trendline tomorrow and stays above 60$ this week.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.