Since I've posted here this weekly in CL , the price rallied and reached target 1.
It created a False Break inside the small structure zone that was created inside the PRZ and now about to re-test this zone again.. perhaps a Kiss Of Life scenario
If the price will rally from the 40$-44$ zone, it'll easily pass the Fast line (weekly) and therefore the first target will be the 50 weeks line, near 50$. That's an impressive rally in itself... but..
If what we are seeing is a weekly reversal in Crude, 2016 could turn out to be the year of Oil as secondary target waits near 80$ .. and that's a huge potential rally in energy.
Tomer, The MarketZone
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Weekly Pattern still in play - Read more http://goo.gl/TFUjbZ
current months Nov. till March oil will remain down... it is possible that oil can go 32$ as well... so keep seasonal trend in mind... usdcad remain bullish in these months..