Warning: Brent is about to fool you and break 63 resistance

FX:UKOIL   CFDs on Crude Oil (Brent)
Oil             strongly resists to go down despite ongoing physical oil             oversupply. Many would think that 63 resistance will not be broken and it's safe to short at this level. The market will fool you on that.

From EW structure we see that the main A-B-C zigzag is not yet completed and what could be taken for a beginning of a downward impulse during Feb 18-22 was in fact another "complex three" - corrective wave. It is likely that the market is currently drawing a contracting triangle as part of a complex C wave and we know that a triangle is _never_ a final construct. Is is just another wave B of one inner degree and the final C wave is yet to come. I therefore expect 63 will be broken, a few stops will be collected by the market and when it reaches 67, it will reverse.

Upon reaching 67, shorting opportunities will be immense.
more beautiful this counting
No triangle this time. Downward impulse has begun today, shorting right now is a good opportunity.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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 Contact Support Ideas Published Followers Following Private Messages Chat Sign Out