Crude Oil (Nov 12)

Crude oil is testing the 3 year-old support on the monthly. This year’s candlestick is a shooting star now. A highly reliable long-term bearish reversal pattern is forming.

chart: investing.com

2 thoughts on “Crude Oil (Nov 12)

  1. I DON’T see what you are writing about and I don’t UNDERSTAND THE CHARTS — SEEMS YOU ARE MIXING MONTHLY WITH ANNUALLY “testing the 3-year-old support on the monthly. This year’s candlestick” — HOW CAN the chart be “on the monthly” and a few words later you say “this year’s candle” …

    1. I have no graphic representation of the yearly candle, so I am mentally adding up all this year’s candles (11 sofar) or check this year’s open-high-low-last to come to the conclusion that the market is negative since the start of the year and also it is far below its highs, thus creating a shooting star.

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