The trend line has already been breached and now we can expect the price of oil to follow a new low while the recent bullish trend formed already retraced more than 61% on the fib. On the daily timeframe, we are following a major bearish trend for a few months now which already retraced and almost wiped off the gains that happened last year.
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Thanks for visiting my tradingview profile. Hope the chart update helps you out. If you like the content do hit the thumbs up and follow me for future updates. Don't forget to leave your thoughts and opinions on the following market. 🙌🏻😎
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Nota
The daily timeframe confirms a complete wipe-off on the gains that happened during the year 2022. Now we have a yearly low close to $63 which is perfectly aligned with our bearish projection.
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.