Price in crude oil -0.60% is moving in a downtrend in the 60min chart, into a descending channel . What we may see here is that after being rejected from the upper sliding parallel of the set, the price dropped sharply into an impulsive move and since then it's been into a correction. Once again price was rejected at the upper sliding parallel, and it's now moving...
There might be the best few weeks of this year for gold -0.17% ahead of us in the following 2-3 weeks.
Last weeks' gains are very important. We successfully printed a big weekly gain after the previous weeks' red candle. It's not just a green candle, we also run to a higher high and it's the highest close in 12 weeks.
We are back to the level of the election...
Let's see the COT in oil -0.19% today.The last COT report was released on 01.31.2017.
Large speculator long contracts: 656.710 ( All time high)
Commercial net shorts at record high level also: 509.138
Comm -0.18% .long: 677.450 contracts
Comm -0.18% .shorts: 1.186.594 contracts (Record high level)
It's the 8th week when Blees is zero again.
Someone is wrong...
in a 240m corrective structure
Currently its making one more down to break the previous low of the structure and making expanding flat so look for the buy setups in 60m will be a nice idea!
The UKOIL 0.61% has same structure, will post it in the comment for you guys