Technical Analysis:
- Crude Oil(CL) is still doing a ((W)) ((X)) ((Y)) correction structure in Daily Chart
- We present two possible Paths
- For Path 1 in Black with 65% probability. We expect that the correction will be completed at around HKEX:53 -56 where the smart buyers can appear
- For Path 2 in Blue with 35% probability, We expect that the correction...
Technical Analysis:
- Crude Oil(CL) is doing a ((W)) ((X)) ((Y)) correction structure in Daily Chart
- We expect that the correction will be completed at around HKEX:50 -55 where the smart buyers will appear
- In short term, It's doing wave ((X)) in black once it's done we can forecast the entry area more precisely
- H1 & H4 right side are turning up
...
Oil rose sharply after news of production cuts. While "news-driven" price reactions are often volatile, we are inclined to continue rising for Crude Oil. Our priority scenario is to continue rising from the low of 64 into the 86 range. Support is around 78.85-77.10.
