I've been following this pair for a while now, and we are in the zone to be looking for shorts
Chart shows all
The only thing that worries me is the recent bullish price action, although we do have a doji candle that closed on friday, so I am hoping to see a bearish candle on monday
Take a look at the monthly and you can see we have a completed bearish Gartley pattern
The gartley could easily become a bat pattern, and is likely due to the bullish price action we've seen this month, so be aware this may not top out until the 1.45-1.50 level
As you know we have a strong negative correlation between OIl and UC, here is my Daily Oil Chart giving me a long signal
-Baytrader
Chart shows all
The only thing that worries me is the recent bullish price action, although we do have a doji candle that closed on friday, so I am hoping to see a bearish candle on monday
Take a look at the monthly and you can see we have a completed bearish Gartley pattern
The gartley could easily become a bat pattern, and is likely due to the bullish price action we've seen this month, so be aware this may not top out until the 1.45-1.50 level
As you know we have a strong negative correlation between OIl and UC, here is my Daily Oil Chart giving me a long signal
-Baytrader