FX:UKOIL   Crude Oil (Brent)
283 5 7
Testing 230 moving average 3 times. And still standing above 230 day moving average. Weekly Close price equal to 5 days average Short term bearish equal to short short term bullish .

After 4 while solider from weekly chart, We think correction target might be at:
1. 45.31 (Reach) = 7.71 x 0.382
2. 44.41 (Reach) = 7.72 x 0.50
3. 44.05 (Near) = 11.02 x 0.382
4. 43..50 = 7.72 x 0.618
5. 42.74 = 11.02 x 0.50
6. 41.45 = 11.02 x 0.618

*7.71 = 2016/04/29 0900 high 48.26 minus 2016/04/18 0300 low: 40.55
*11.02 = 2016/04/29 0900 high 48.26 minus 2016/04/05 Low 37.24

Daily chart has 3 black crows right now, therefore, it still need to observe what direction of testing low.
Weekly: 4 while solider. Bullish . May have correction. Maybe can buy it from correction for medium term.
Monthly 3 white solider: Bullish . May have correction. Maybe can buy it from correction.for medium term.

We have bought 1/3 positions that we affordable from 44.20. and we will continue to buy the another 1/3 position if price reach near 43.50, and 42.74. we set our stop loss at 41.40
Hello! Please tell us what purpose you plan to achieve in their position? I fully agree with you and plan to reach $ 52 in May
I am from Russia and does not speak English very well
14 days(2016/04/25) ago AlexC was asking the same question. Here was the reply that wrote to AlexC. It is still valid from our observation.
HI, your estimation maybe correct.
Our estimation of this smile wave target might be:
Target 1: 46.3 (We take partial profit near this price)
Target 2: 48.31 (===> Almost near this figure on 2016/4/29 high 48.26, and we take most of our long position profit around 48, 90% of the long position)

We aim at the same target when we re-enter into long position for the weekly 4 white soldiers correction.
Target 3: 49.75
Target 4: 51.89
Target 5: 52.56
+1 Reply
ss88 PRO BMYWin
Many thanks! I will focus on your goals assumption! please tell me which country you are from?
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