Can this be true? Dez 2016: 75$ ???

NYMEX:CL1!   Light Crude Oil Futures
1493 27
What do my tired eyes see?? Isn`t it a big bottom pattern in form of an exemplary H&S?
The RSI signs, that there is still a bit air on the downside. A dip back to the 38,2 fibo @ 41,92$ would be great. A dip to the 0,5 fibo normal and a dip to the 61,8 maximal.
If this level would be bought, a H&S is being formed. Prices above the neckline could interpreted as a BIG LONG SIGNAL.
I have illustrated the possible TPs in my chart
Comment: Microstructure:
Comment: We have reached the 38,2, no bottom in sight yet! 38,8$ - the 0,5 fibo could be the next target
Comment: Overview Update:
Comment: A H&S at that niveau would be nice for my analysis ;-9
Comment: nice one!
Comment: Oil reached an important action point -the 38,2 fibo and the former breakout niveau (blue) - at thhis point mythis main analysis started... - for those shorties which have missed the last train, this could be the so called "traders dream" where a new short position could be entered. Will oil trade sustainable above that niveau, the next fight will be the downtrendline @ 45.10$ . Trading above that level will open the next targets 45.63 and 47.13.
Comment: next target 45.63 reached
Comment: Today we have reached thze 61.8 fibo of the downswing 51,6-39,3. the open position is comfortable in the win - at presesnt ca. 7$! At this fibo level i exspect a corrective downmove - perhaps down to the "traders dream" - the 38,2 fibo from the movement ( 39,3-47,04) at 44,82$ - the former breakout level!
hello,how do you see dax now?
September - October contract ?? ... mine will expiry soon lol
Excellent analysis as always! I am looking for prices to retrace to the .786 of the past years overall range and beleve next year will likely see another fall. Good trading to you and fabulous charts!!! You are busy!https://www.
I totally agreed with this long term view ! buy the dips guys ;) !!!
Hot my stop lose ,and enterred Short
Boumrah Boumrah
sorry,mean Hit my stop lose ,and enterred Short
I think we are approaching the end of the correction from 27 bottom to 50 top. This cyclic lines and the 0,38 fib time point to these days. I think we have one more down leg and then it will start a new period.
I have been thinking about the possibility of this pattern ever since it hit 51, though I do not trade oil yet.
That´s not a new trend unfortunately: it is double or triple corrective zig-zag from FEb lows. If there would be a third "zag", it should end somewhere at 57-62.

What I´m not sure if there would be a third "zag" or it is already too late and oil is already heading to 12-9 from it´s June peack?
marihuana-aktien captain_smollett
hey captain..have you got a Chart to illustrade this mentioned present ew-comnt?
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