Pole and Flag pattern formation, breakout can lead to 135$-140$.
Hello traders, Crude oil is in downtrend since it made high of 120 us dollar in mid June. But as we can see that it is falling in a channel, and it has come to support level range of 84-85$ and as we can see in charts that it is forming a flag and pole pattern starting from low made in November 2021 at 66.50 $.
As we can also see that it is aslo taking support from 85$ range and we are also near channel’s upper wedge. In the upcoming weeks we can see a trend reversal and can see levels of 135$ -140$ in next few months.
As we can also see that it is aslo taking support from 85$ range and we are also near channel’s upper wedge. In the upcoming weeks we can see a trend reversal and can see levels of 135$ -140$ in next few months.