Dear friends and technicians.
Trying on a funny way to predict movement in BCOUSD. The chart current development looks quite similar to the corrections in 2008 and 2014. Taking the average of these two corrections and the movement after the ended corrections, and assuming that the same will happen now (which is something that we all technicians do), the oil price will probably move up to 68-69 level and fall down to 54-55 level.
Your future analyst RR.
Trying on a funny way to predict movement in BCOUSD. The chart current development looks quite similar to the corrections in 2008 and 2014. Taking the average of these two corrections and the movement after the ended corrections, and assuming that the same will happen now (which is something that we all technicians do), the oil price will probably move up to 68-69 level and fall down to 54-55 level.
Your future analyst RR.
Comment:
Small fall in the price. Please do not panic. The strategy is still the same. This is just a short term correction and I believe that the price will increase in the longer term.
Comment:
The analysis look still quite accurate. Next stop will be 55-ish level.
Your future analyse RR.
Your future analyse RR.