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Crude Oil Head & Shoulders + H4 Trend Rider

Crude oil prices have been sinking ever since Donald Trump won the US election. I believe "drill, baby, drill" was the phrase Trump used in one of his
Crude Oil Head & Shoulders + H4 Trend Rider - Forex Trading Signals

Crude Oil Head & Shoulders + H4 Trend Rider

Key Level: 69.00000
Next Level: 63.58000
Pips: +700
Crude Oil Head & Shoulders + H4 Trend Rider

Trade Idea

Crude oil prices have been sinking ever since Donald Trump won the US election. I believe "drill, baby, drill" was the phrase Trump used in one of his rallying speeches. This was a promise for more oil extraction from the US. In simple terms, this means higher supply and therefore lower prices.

Trade Description

The technicals match the fundamentals, too, with a daily head and shoulders pattern visible. On top of this, there is a potential H4 Trend Rider selling opportunity at 69.00 which traders could take advantage of. From here, the price could fall to at least the neckline of the head and shoulders pattern. Beyond this, I am looking for a move down to the key swing low at 63.58. Trade well!

About the Author

Welcome to Mojo 4x by Hassan, your gateway to conquering the ever-evolving world of currency exchange! Here, you'll gain access to premium trading signals, honed by Hassan's expertise, empowering you to make informed decisions and potentiall…

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