This is crude chart with inception. Can i consider grey line as a break of VTL ? Please share your thoughts on the same.
Very nice to keep in mind. Thanks
Would you like to share your thoughts on the above crude chart ?
Yes sir, when I looked yesterday, crude futures are running into a squeeze situation as it moved into the old range from last year. It seems to be, on the daily, a category “C” interaction with the 20 day FLD. Which is starting to break the 10 day FLD downwards. I dont think that is a short, and it may be a bad trade to short the 20 day FLD in the future. I am steering clear. There are better opportunities on the daily chart elsewhere.
Can I say that Break of Grey Trendline is break of VTL and it means that 160 Months cycle has topped out and we should see lower lows in Crude ?
kindly share your thoughts on the same.