in weekly time frame, a support and resistance will show price behavior now 93$ is an aim before US oil start producing to market
significantly we must attention to long term trends of Oil price if this fork can stay true, then we can find a major trend at all but in face must see to change debit of Oil in the world and replaceable energy sources
now the price in fighting with an important resistance line in 53$ I think it`s main point to make decision before ended this fight I only watching them in daily time frame
in short time there are a valid short time channel that can work and stop lost alart
WTI could break up main trend line to achieve 52$ in short time but I doubt if could stay there, because the value don't confirm it although in longer time frame I hope to achieve at least 70$ , but now it is difficult after Iran and Russia vs Saudi Arabia in OPEC War
if Sugar price decided to rise up, it had to break up 23$ else we can name this wave as X wave
as I write in the chart, its obviously clear that we have a big problem to change main trend but its better to stop and watch price behavior
after OPEC and Russia agreement about freezing the oil production, it`s natural to price increase to arrive above of 50$ in chart pattern a head and shoulder patter is going to complete with 77$
but I`m not waiting for a big rise up price. because I believe the Pattern not completed yet!
main Zinc Resistance at AB=CD -RD Weekly Trend Line
i think oil is ending a 5W trend up to 54 USD its OK with some pattern that occurred in other chart of Oil that I see
perhaps it is to make a double bottom to reach 54$ it is equal to AB=127%CD
after BREXIT and unbelive vote to exit for EURO a big shock will cause to EURUSD fall till 1.05 or 1.0 up to end of 2016