BMYWin
Long

Challenge 365 Moving Average

FX:UKOIL   CFDs on Crude Oil (Brent)
186 0 5
1st time: Brent Crude touched yearly average (365 MA) on 2016/05/18, but fail. The price get support from 10 Day MA.
2nd time: Break it on 2016/05/25, but the second day forming a reverse hammer .
Now the 3rd time come back to test 365 MA (Yearly average) price.
The bull look like want to challenge yearly average next week.

We took partial profit from our 7/10 long position from the target reach. We still aim the target price at 51.89 and 52.56.

Bullish signal:
1. 200 MA just going up right now.
2. Stand above 5 MA and 10 MA, and current price is equal to 365 MA.
3. Drop Inventory.
4. Physical demand is still strong.
5. Weekly and monthly chart still looking positive.

Bearish signal:
1. Strong US Dollar            
2. Russia Crude Oil             Export climbing high (Production increase.)
3. Without cut product agreement in big crude oil             export countries.
4. Slow the Moving up momentum.
5. Last week price going up, but Transaction volume decrease. (Weekly chart)

Overall is still bullish .
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