I want to prepare you that on this 4 hrs chart we will test back the 100 and maybe break marginally below it.
So most probably on Monday or Tuesday we will stop a little bit and come back to the 100 before we enter the 48-52 area to print the daily cycle high.
I'm looking for a reversal candlestick now.
Someone asked me I don't think we are in an ascending wedge. It's a channel (green)
USA futures are the key now (S&P; NAsdaq, Dow) they are in positive territory .
If stocks are heading to the all time highs nothing will stop oil to go to 48-50$.
If we close below this we will be heading to the daily 200 EMA.
I don't think we break down here from the descending channel...
We will be heading up in the next hours. Hopefully break out of the channel at the next tag.If not we will break later.
Once it's done stock will move up, gold down, oil up etc.