BMYWin
Long

Bull hand ready to challenge Season Average

FX:UKOIL   Crude Oil (Brent)
148 3 2
An invisible hand is steady buying from the market, and is ready to challenge Season Average. Reason as following:
1. Last Friday(2016/2/26) a fast correction, forming a red cross hammer . ( Bearish message)
But this Monday(2016/2/29) the price going up eating the red cross hammer's 97%. Indicating the it might be a fake bearish sign)
2. 3 lifters forming a very good support from daily chart .
3. 20 days average cross over 50 days average on the day of red cross.(Last Friday 2016/2/26)
4. 4 days above the cross over( 20 days average cross 50 days average.)
where is it headed next, do you believe?
Reply
BMYWin tbuckle
Hi,

Next move might be 2 possible:
1. Continue to go up.
2. Correction.
Reply
Yes! Market moves the Brent Crude Oil price up to challenge 66 days seasonal average price. (Note: 22 trading days in a month)
Reply
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