fnassir
Short

oil Brent reached 200 days EMA and complete ABCD pattern

FX:UKOIL   Crude Oil (Brent)
153 1 1
fundamentally with oil             prices recovering from its lows and oil             suppliers looking to increase market shares "news linked below" and technically reaching 200 days moving average , so a pressure on oil             prices expected.
we can see from the chart that a bearish ABCD pattern have formed and i have insert price target in between 38.2%-61.8% Fibonacci retracement first 60 and second 54.5.
fnassir
a year ago
we reached first target about a month ago and broke it today waiting for Iran nuclear deal and sanctions news to see if we reach 2nd target at 54.5
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