Some time ago I had shared with my friends an idea of Brent going to 56.5. it was some late night old mans lonely evenings thoughts on the chart. Brent was at 52+ back then with lots of bearish sentiment built up in the crowds mind. it worked out just great. s3.amazonaws.com though I am not an Elliot or other types of wave analyst, I find that some basic ideas...
Time to break out! As u can see, im gonna try to sell something! Good luck
BRENT. Aisle channel, my opinion 100% sale!
There is a lot of selling pressure at these levels, and I don`t think the prices will be able to stay in this area much longer. I expect Brent oil prices to drop to 40-42$ per barrel by the end of 2017/early 2018, and go up from there to higher levels at 60-70$ per barrel by the end of 2018. One of the factors being able to influence negatively the price of oil...
USOIL is forming a Rising Wedge. Sell the breakout. Cheers!
Oil fails to break above the channel, time go down fast.
BCO/USD is showing a potential inverse head & shoulders on the monthly chart. long term target prices are labeled in the chart. first tp is a probable support level, second tp is based on pattern projection. this is based on pure TA, so as always, it could be wrong. trade at your own risk.
BRENT. UKOIL. Channels, wedge, oil sale.
BRENT. Wave analysis, UKOIL sales.
Global Short Trend, sell from levels Signal: Sell Limit 1 - $55.45 Sell Limit 2 - $57.27 Stop Loss - $61.45 Take Profit - $44.40
just a close up look of the idea, to track the move
Happy trading!
Wave (iv) of 3 (of 5 of 5 of impulse C) is ending so we should have a good up trend to 56 next week.