WTI OIL is in a wedge which should normally break from the bottom.
I'm long on oil until it'll reach 44$ level which is also the top of the wedge. Watch out for possible fake breakout from the top.
If resistance is validated short at 44$ wit targets :
- 41.6 which will be the green support line
- 40$ which is the 4H MA 200
- 34.4$ which is the next big support.
Here is my thought, we might be seeing a trend reversal on the nasdaq, to be confirmed on monday by :
- An opening much lower than friday's close creating a weekly gap,
- The definite crossing of the MA20 (which has been struck on friday),
- Crossing of 1H MA200 and 4H MA50,
- Crossing of daily RSI 50 value,
- Breaking the dotted pink support line.
The EURGBP reached 0.93 / 0.95, big resistance and started a down trend. if the orange support is broken this theory will be validated with next major support 0.87. If the blue resistance 0.922 is broken theory invalidated.
Im new here so please don't hesitate to share thoughts ! :)