weiloon940718
Short

USOIL : AB=CD PATTERN FORECAST

FX:USOIL   CFDs on Crude Oil (WTI)
116 1 9
Since the price failed to breaks resistance 51.40, and now a lower high point C is formed, we could expect a medium term bearish trend towards point D which is near to 39.44, where the structure support is also located at there. For those shorted at point C, the TP area will be at point D.
my target is around 42.2, but need to wait until 30 Nov for OPEC.. after hearing rumors for Russia and Saudi, i think meeting will be disappointment and oil would go down deeper than target
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