BMYWin

Still in a correction

FX:UKOIL   Crude Oil (Brent)
150 0 2
After satisfy a bullish wave reach 52.83 high, Brent crude oil             price drop rapidly for 6 days testing 50 days moving average support area. It is still in the correction stage. The correction target look like target at
Target 1: 0.236 ==> which price at 46. 75 has almost reached.
Target 2: 0.382 ==> which price at 43 to 44.

Bearish side are:
1. uncertainty of UK vote for exit EU
2. price is still under 10 days , 20 day and 365 days MA for 4 days.
3. Price dark for 6 days which mean price will go down to test low again.
4. Weekly chart showing a hanging man.
5. Transaction volume still weak.

Bullish side are:
1. Price claiming up to above 5 days average . (Weekend), price up but transaction volume decrease.
2. 200 MA and 365 MA going up.
3. Inventory decrease.
4. Physical demand strong.

Overall: still in a correction stage, price maybe will go to test low again.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out