Long term downtrend
Current correction should end before level of 60$ per barrel.
If we saw price above 60$ it could test higher prices but only for short term.
Price in long term should go down, below level of 50$ per barrel in next 6 months maximum.
Tulip Bulb Mania symptom, bubble should crash soon.
Bitcoin hype must find resistance, for now it is 3000.
Before we see 4k, 5k on the wave of crazy btc mania I expect that we must see one more crash.
If it manage to break 2550 this week we will see 2250, if not will be still on our way to 3k 3rd time.
Gold test crucial fibo level.
If it menage to break we can expect 1200 in coming days.
If not, if it find support here above 1230 you can enter long positions and expect again bullish trend.
SL for long be should under 1230, and if price break this level for short positions SL above fibo levels.
The market senses a Fed hike is coming in June and gold is bearing...
As long as price don't break resistance we can expect possible new bearish wave.
If fundamentals that are bullish don't bring us above 1,10 we are expecting our old bearish targets based on fibo levels and support levels.
If price menage to change fundamental uptrend we also expect that price will fulfill GAP.