-All Prices traded below this Level (52,3$) are generating short signals in the Long- and midtermview.
-A Crash through this Level will active the TP @ 45.00$!
- Trading above this Level can be interpreted as a midterm-double bottom with target @ possible right shoulder
-If the Price Drops to the big "2" opens the possibility of a longterm . This is my favourite longterm view.
former analysis is still valid! Moreover - there is the possibility to form a shs !
Brent update Brent could not beat ist longterm downtrend!
After Iran testified, that it will perhaps double its production, brent only made one direction: downwards!With prices below the last valid "2" @ 62,5$ brent leaves his middleterm uptrend (green) behind and reentries
in its longterm downtrend.
As Long Brent is trading below 63,5$, the risk continuing to drop increases massively:
The logically inferable target of the longterm downtrend is
If Brent could sustainable snatch back the Level @ 63,5$ , the technical Situation relaxes
19.06.2015: After the massive sell-off from 116$ t o 45$ Brent could recover at $72 to almost the 0.38 Fibo-Retracement. (Red 123er-counting)
The recovery formed a short-medium term uptrend (green channel) (orange 123er counting)
-At the Moment Brent is near the bottom of the mentioned upward channel and is retesting the former breakout level @ $ 64. This level should be supportive.
-If the trend lower edge will be bought again the first technical shortterm target is the last high and the 200 @ 70$. Should this resistance fall, it can be assumed that the price will move in the direction of the trends top edge @ 80$. (orange "2?") That level coincides with the Middle-Fibo target the entire downward movement. (50% correction)
-Will Brent break through its support @ 61-64$ is attributed with a test of the recent lows around $ 52,5.
- Will this Support also break, it needs to be reckoned with a test of the lows at 45$
-Under $ 45 is likely to win the downward movement momentum and lead to massive and rapid course fees. The red count would then be applied again.
In the long-term picture, the recovery appears to be a kind of downward flag, which is triggered by falling below the $ 45 mark 52 respectively.
Given that ema50 is currently negative sloping. In order for event B to be like event A, the slope of ema50 will have to be at least positive sloping.
Not a place where retail should be sitting through draw downs until Big Money determines the next trend.