TRDVMA

Update Brent Oil

FX:UKOIL   Crude Oil (Brent)
126 0 1
We are still bearish with oil             , given all the bearish signs (listed on the chart). We were expecting a faster down turn for a 3rd wave, however the market went back up invalidating the ABC count, before the 3rd wave. Instead the upmove expanded to 0.764 Fib level. This may indicate a complex top formation in the making. Currently, we will watch whether the Oil             price will tend to follow a triangle top formation.
The implication on Canadian dollar:
As the USDCAD             is heavily correlated to Oil             prices and USDCAD             is still weak (bear), we wouldn't recommend to go go long with this pair yet.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out