We do not even know, what to say. Everything is reflected in the charts in terms of the fundamental, historical and wave analysis. Maybe we are wrong, and the oil, will take the form of long-term correction, but the growth is unequivocal in the coming years. This is our opinion. Yours faithfully!
use lower Time frames to choose your strategy for me we need still to make double top or divergence on daily to continue downward moving so range 44,73 - 48,7 (if break 50,5) Also note: - Broken triangle pattern still not worked himself (bullish) - Megaphone on top for now showing possible retrace from 17.09 high to bold support line which if broken, downtrend continue
OVERALL MY BIAS ON OIL IS SHORT. WEEKLY HAS CLOSED SPINNING TOP WHICH SHOWS INDECISION. PRICE HAS BEEN REJECTED FROM THE $50 RESISTANCE. CAPPED BY THE 50% RETRACEMENT. CAPPED BY 50EMA. PRICE COULD BREAK THE 50EMA AND CONTINUE FOR AN OUTER TREND LINE TOUCH. WAITING FOR 4HOUR COUNTER TREND LINE BREAK AND OTHER CONFLUENCES. FIRST SHORT TARGET 42.00 SECOND SHORT...