Alternative wave count for the current weekly C-wave shows a potential ending diagonal as fifth wave. Zig Zag on weekly basis Good luck!
Looking good!
We are in the last consolidation within the triangle ABCDE. Wait breakup. Target 67-70 depends on Fibo ratios between A and C. By the way, in USOIL there is no such a classic triangle shape.
Bulls work hard to make 52.00 new support, This Triangle decides the next moves of the trend.
This third wave is a C wave on daily chart on a weekly ABC. Happy 2017!
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) Best regards Aaron
Between 54.015 & 53.800 and between 53.800 & 50.800 the big picture is still bullish ... Start of last week we got a good news from the OPEC - as the price rocked Up (from 53.130 until 55.501). Suitable in this context is maybe the technical fact, that while the 2nd half of the week, traders traded BCOUSD in a trend-reversal-formation (something like a w wave)....
Long term price channel on Brent oil between 52 and 43 key price levels. A rise above or below these levels should correspond to interesting shifts in stock/currency markets.