Currently the price is between the 50 and 100 . is below 35 and the StochRsi is showing signs of exhaustion and diversion is coming up.
The target of the Sept /Oct 2015 high is still fresh in the minds of the bulls and they had a day rest so I expect NY bulls to take charge shortly.
My target is just over the 54.03 to 54.29 area as I believe the bulls will want to show that they can take that level out. Remember WTI oil took the target and I cannot believe that they will leave Brent oil behind. This diversion between the two needs to be corrected.
Now 50.26 is at risk. If we break that the whole move up becomes a correction
Let see what happens. I still have a pending buy order....not filled yet
My attempt is an expanding diagonal. That is what it looks at the moment. Brexit and Yen all have an influence. A lot of websites say dont worry about Brexit. OK but GU and AU have some relationship. If GU going down then EU will follow to some degree. IF the Euro is weak then other pairs are affected. The way I see it they are all inter related . If you can help me.....please feel free to pm me or comment here....we all want to learn
Poll or no Poll I still see Brent going up. From a fundamental view all countries ( Euro, GBP, USA, Japan etc etc etc ) need higher inflation. They all want higher wages which the companies can only pay if they get better prices for their products. In the end....Oil makes the world turn around.