TRDVMA

First signal of Brent Oil down-turn

FX:UKOIL   Crude Oil (Brent)
160 0 1
We can observe a clear and classical WEDGE formation. This formation is generally quite reliable in predicting a trend change. This pattern is NOT a TRIANGLE or PENNANT, which could herald continuation of the bull market ahead, but it is a clear wedge formation. At this point I don't have any firm ideas up to which point the Oil             price will trace back but 32, 30, 27 dollar ranges have support levels. I expect starting mid next week to have some interesting moves at USDCAD             , EURCAD             , EURUSD             GBPUSD             , GBPCAD             pairs. Keep your eyes open for these. Good Trades.
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