29.10 HIGH... NOW 23.50 DOWN OR UP A SLIPPERY SLOPE!!!
From 19.30 oil fired up to 29.10 ($10.00) then back down the slippery slope to 23.50, from 19.30 to 29.10 there are 5 waves which is the 1st impluse of any move now in the 2nd part which is at about 23.50(50%) this could be either a simple correction or complex one.
upside resistance 27.00-28.00, downside support= 22.00-20.40
break out above 29.10 then expected price targets T1= 30.40-31.80, EXCEEDING here T2=35.00-36.30 or upto T3= 41.30-44.70.
Short Term= neutral, Mid Term= trade long & short depending on your expertise
T2 &T3 are mid term to long term price zones it could be a couple of days,weeks or months... i don't know, do you?
OIL is volatile and on fire therefore trade safe.
upside resistance 27.00-28.00, downside support= 22.00-20.40
break out above 29.10 then expected price targets T1= 30.40-31.80, EXCEEDING here T2=35.00-36.30 or upto T3= 41.30-44.70.
Short Term= neutral, Mid Term= trade long & short depending on your expertise
T2 &T3 are mid term to long term price zones it could be a couple of days,weeks or months... i don't know, do you?
OIL is volatile and on fire therefore trade safe.
Comment:
crude breached lower support 20.40 and made a low of 19.95 and has since moved higher back above 20.40.
