- April 8, 2021
- Posted by: Tradingshot Articles
- Category: Commodities
Simple fractal comparison on WTI as the price is consolidating since the March 23 low and is approaching the Higher Lows trend-line that started on December 01.
As you see the current price action is quite similar to the late October – early November one. After the 4H MA50 crossed below the 4H MA100, a bottom was formed a few days later. Once the two crossed again on a Golden Cross this time, the very aggressive rally of December – March was initiated. We are on a similar situation right now. Has the March 23 MA50/100 Death Cross priced the Bottom? And if yes will an emerging MA50/100 Golden Cross kick-start a rally?
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