zhipengcfel

Oil mid-term top detected

Short
NYMEX:CLN2016   CRUDE OIL FUTURES (JUL 2016)
1. ABCDE wave of wedge pattern finished;
2. Bat pattern completed;
3. Bearish Engulfing Pattern;
4. Bearish divergence;
5.Channel resistance;

Good luck for everyone!
Comment: Bear continues. It breaks out of the wedge. Pay attention to today's close price. If it closes below 49.6, it means more decline next week.
Comment: Cool! The close pice is much lower than 49.6. The target is pulling back to the bottom of the channel which is around 45.5 at least. For the ones who did not jump this decline can sell the retrace at 49.5~49.6 with SL at 50.1.

Comments

what targets you would suppose?
+1 Reply
TP1 46;
TP2 44.7;
TP3 41.7
+1 Reply
avento zhipengcfel
Thank you!
+1 Reply