He guys,
let´s have a look at Oil. We have a strong uptrend so the main direction is long! We are now at some resistance area, where we have to see what will happen. If we break the 80.50 USD, we will rise at least to 81.80 USD. From there could start a exhaustion of the run we saw the last weeks. In bigger timeframe we can see that the RSI is in critical section. This could lead to a correction before rising again to the 90 - 95 USD! We will see a correction, if we break the 78.08 USD. This pattern will be a Zig Zag with a target of 77.17 USD. From there on we have to look what will happen, could continue to 75.75 USD. This case has no high probability, from the point of today. No later than 75.75 USD we will rise to the next highs. Good luck!
let´s have a look at Oil. We have a strong uptrend so the main direction is long! We are now at some resistance area, where we have to see what will happen. If we break the 80.50 USD, we will rise at least to 81.80 USD. From there could start a exhaustion of the run we saw the last weeks. In bigger timeframe we can see that the RSI is in critical section. This could lead to a correction before rising again to the 90 - 95 USD! We will see a correction, if we break the 78.08 USD. This pattern will be a Zig Zag with a target of 77.17 USD. From there on we have to look what will happen, could continue to 75.75 USD. This case has no high probability, from the point of today. No later than 75.75 USD we will rise to the next highs. Good luck!
Comment:
now we see the correction of OIl. First target reached at 77.14 USD. If this resistance break we will see 75.80 USD. From there on we have to check what will happen, could go down to around 70 USD.
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Comment:
* Support at 77.14 USD
Comment:
Next target 73.55 USD. From there on could start a correction. Mid term target could be around 70 USD.
Next target 73.55 USD. From there on could start a correction. Mid term target could be around 70 USD.
Comment:
after correction we will see now in the next time at least 73.55 USD.
after correction we will see now in the next time at least 73.55 USD.
Comment:
the big picture is already long!