A potential pennant is forming in the daily chart. Moreover, we have a broken descending channel:
In principle, there are multiple possible opportunities with this instrument. There is an option to buy the assed at the current price or wait for the upper side of the pennant to get broken in the 4-hour chart (this pennant resembles triangle in the time frame Н4). After any of those moves, there might open up a chance to buy the asset. In any case, the goal in terms of this pennant is 55 Dollars per barrel:
Single currency touched the level 1.1714 and is trying to form a reversal pattern “hammer” in the daily chart:
Traders might consider buying the asset away from the level 1.1714, that is, from the middle point of the hammer:
Stay tuned for more and trade with Tickmill!