as expected, the double top arrived without physiological pauses sanctioned the collapse of oil wti. At this point of the bullish tl rupture increases the chances of a continuation of the downtrend, but would be careful to enter immediately, because a recovery do area 46.25 / 46.30 could raise the prices. Long ...
I see oil perky and ready to attack phase for the break-out of $ 50, suppoti 48.70, 48.40, 47.70 and 47.20.
Important given a downgrade of the area holding 45.00 this week.
Target on the upside 50.80, 51.20, 52.20 and 53.00
For oil I expect a weak week and I think that will be the decisive week, if it will hold the trend line in the short area 46.45 am convinced that we will be the last "brushstroke" of oil that will test the resistance area at 51.00 / 53.00, where in my opinion could end this fantastic race, at least for the short term.
As announced this week was as I call it a week flat / bearish, but I was convinced that for the second part of the week there would be a reaction, which occurred only in part.
The previous Friday bodes well for the future in the short because we went from very short downtrend channel that had been created, although ...