At 15.01.2018 quatation tried break up resistance created by the low range of the 11.2014 candle TF 1 Month.
Now we've got little correction.
But we've got also a strong bullish chanel built from june last year.
So ... we have a few SZ's from 1D TF & resistance lines on the way up! this year.
And one pink TL.
But I think zones and all that stuff could be only a chance for local correction.
First target is around 95 $ (pink TL crossing channel), second target 100 $ (psychological barrier) and then mayby even higher?
With this speed & movement in this channel we can reach 100 $ level circa september this year.
Negation of this scenario:
- of course if OIL break down lower range of channel especially in the area of zones or resistance - it could be biggest correction, consolidation or even change of actual trend.
- if OIL break up channel- then the appreciation can be faster.
I think TA in TF 1 Month could be very helpful too. Check up place's where the candle bodies contact each other in this TF.
And check up fundamental economic events such OPEC decisions and oil reserves.
Now we've got little correction.
But we've got also a strong bullish chanel built from june last year.
So ... we have a few SZ's from 1D TF & resistance lines on the way up! this year.
And one pink TL.
But I think zones and all that stuff could be only a chance for local correction.
First target is around 95 $ (pink TL crossing channel), second target 100 $ (psychological barrier) and then mayby even higher?
With this speed & movement in this channel we can reach 100 $ level circa september this year.
Negation of this scenario:
- of course if OIL break down lower range of channel especially in the area of zones or resistance - it could be biggest correction, consolidation or even change of actual trend.
- if OIL break up channel- then the appreciation can be faster.
I think TA in TF 1 Month could be very helpful too. Check up place's where the candle bodies contact each other in this TF.
And check up fundamental economic events such OPEC decisions and oil reserves.