On the monthly chart we can see OIL broked long term resistance trendlines my tp is area 87$
Brent is moving in a long term downtrend started in 2008 , I think that we're in the 4th corrective bullish impulse , the blue resistance line was broken so I expect bullish trend will continue in the next months
Brent broke the blue monthly resistance line, I think that looking at the monthly chart we're in the 4th impulsive EW in a long term downtrend
I'm waiting for 0.382 fibo support level to next bullish impulse
I think that waves 3 -4-5 will follow on 4h chart tp around 115$
I see a retracement to 0.0000065/66 area before new bulllish impulse
I think we'll complete short term correction before big up move
I think we'll se a 20/25% correction before next bullisg leg
I think after 20% retracement bullish wave 'll start
I think SPX will make a correction before bull trend resumes towrds 3900 area
Wti broke h4 ma50 that supported the bullish trend , I see a correction towards 40$ area before bullish trend resumes
On the very short term I see a falling wedge (blue) with tp 48,9$ and a rising wedge (magenta), so I expect a retrace @ around 45/45,2$ and a probable (to evaluate!) last bullish impulse towards 48,9$ where I think an 8$ dump will start
Next supports 3605 then 3575 and maybe 3540 before bullish trend resumes
I see several wedges forming, I expect a dump towards 3570 a new ATH @ about 3760 , a correction towards 3470 and last impulse to 3900 ATH where a very deep correction will start fincancial crisis