1)AB=CD 2)GARTLEY PATTERN COMPLETION 3)TARGET 10520 AREA
After Gartley's Pattern completion last year, croud oil seems that targeting 74.76 level.
As we see crude-oil broke the resistance of 52.60. The next resistance is in 67-69 area. So the correction of loonie will continue till the 1.20 area
1.XABCD PATTERN TARGET (0.74271) 2.FIB 1.618 (0.74206) FROM WAVE A (ORTHOLOGICAL TOP 0.74937)
If it is, then the target is in 9830 area
The triangle ABCDE that started in 1997, completed last June.
120m timeframe
An approach to monthly chart, always help to understand where we are to shorter time frames.
A change target is necessary, because of an interval triangle pattern ABCD. So the new target is 1.2905. 1.DE=BC*.618 2.RSI still downtrend. 3.If SL level brakes, then long till 1.3380 level