TipTVFinance

Bent oil scenario- Break below 38.2% or Head and Shoulder

FX:UKOIL   Crude Oil (Brent)
On the daily chart , we have two possible scenarios that could unfold -

Either prices could see a daily closing below $42.99 (38.2% of Jan low - June high) and drop to 200-DMA level of $42.35 or else

Prices could stage a rebound from 38.2% Fibo level of $42.99 and make a move towards $48.35 (50% Fibo of May 2015 high - Jan 2016 low). Amid growing signs of gasoline glut, a break above $48.34 appears unlikely, thus a right shoulder could be formed. The resulting head and shoulder neckline is seen around $42.80 levels.
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
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