Oil will moving up to 50 and then back to 26

NYMEX:CL1!   Light Crude Oil Futures
1452 18 28
Dear Friend's.

When we move to 50 we touch trend line from 107 that i draw on the chart then we back and create a head and shoulders , if we complete the h&s we move down around -12$ from $38 and the final target for oil             is $26 on November.

Kind Regards,
Pooya Salehipour

Comment: http://www.cnbc.com/2016/01/16/iran-frees-4-captives-ahead-of-expected-lifting-of-sanctions.html

i think oil drop to 26 soon.
+1 Reply
Im trying to be myself not funny. And i let you to be yourself not anymore. ;_)
Interesting Pooya, I like your work. My only concern is crude prices rising into the potential interest rate hikes. I was expecting more of a dip now down to at least 40, followed by extremely mediocre or no rate hike and then for the scenario you show to take place. Unless.... oil prices continue to be inflated to help allow for the feds to make the rate hike decision. Thanks again, good work.
+1 Reply
PooyaSalehipour smitheric1970
your beautiful message is my pleasure.
i am living in Iran and domestic policy issues large supply of crude oil to Iran after nuclear deal proven. The completion date is exactly where the right shoulder and then a competition between countries in the Persian Gulf will happen and it confirms the downward trend under $30.
smitheric1970 PooyaSalehipour
That is good informations, thank you!
+1 Reply
PooyaSalehipour smitheric1970
You are almost welcome.
smitheric1970 smitheric1970
How interesting that we have an interest rate hike decision and the Iran nuclear deal decision both occurring on September 17. Short term, do you still believe that prices will retrace to 49.5 prior to the 17th?
+1 Reply
PooyaSalehipour smitheric1970
I can link you on a website that show you how nuc deal make a swing on oil price. http://mobile.reuters.com/article/idUSKCN0PO01N20150714 also please chek http://www.presstv.ir for following the world, economy and... Its hard to explain in a comment.
smitheric1970 PooyaSalehipour
Perfect, thank you!
+1 Reply
this is exactly what i think, but your chart loks amazingly simple!
+1 Reply
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