Before we start a discussion, it is my pleasure to read your opinion on this post's comment section and support this idea with your likes if you enjoyed it !
first:
The crude oil price reaches the upper line of parallel channel. the zone is good for selling.
second:
we see a divergence between the price and MACD at the top of the channel.
third:
a harmonic pattern could be seen. that may be a bearish bat pattern and D point may go higher to 0.886 but the price could reverse from now because of time analysis (fourth section)
the 127% level that is shown in the chart is the projection of AB from point C. (I do not want to crowd the chart but I want to show a cluster of Fibonacci level at this price.)
forth:
next high swing could be find from time analysis using X point and B point. (FIB ratio to find next high swing)
I expect bearish outlook for crude oil.
first:
The crude oil price reaches the upper line of parallel channel. the zone is good for selling.
second:
we see a divergence between the price and MACD at the top of the channel.
third:
a harmonic pattern could be seen. that may be a bearish bat pattern and D point may go higher to 0.886 but the price could reverse from now because of time analysis (fourth section)
the 127% level that is shown in the chart is the projection of AB from point C. (I do not want to crowd the chart but I want to show a cluster of Fibonacci level at this price.)
forth:
next high swing could be find from time analysis using X point and B point. (FIB ratio to find next high swing)
I expect bearish outlook for crude oil.