DXY, EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD
GULFSLOPE ENERGY, INC., GRAPHIC PACKAGING HOLDING COMPANY, GREEN ENVIROTECH HOLDINGS, CORP., GENERAL ELECTRIC COMPANY, ADVANCED MICRO DEVICES, INC., UNITED STATES OIL FUND
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Weakly chart showing broken of ascending trend line, closing under the trend line is a bad signal..
The worst scenario of the oil price is TP2.. Is there a global economic crisis? or Iran will make a nuclear deal with USA?
USOIL chart is pretty worse and that will lead to go more down, but in short time some indicators are showing that USOIL price may go up. watch the trend line at least $71
Reversal from that descending trend line may lead the price to $55 area with long time period... NOTE: breaking of the trend line will take off the price to high
This idea will not neglecting the previous idea of the USOIL.
If that is an actually Gartley pattern the first target should be 38.2 Fibo for the points A to D, which is in same time touching the assending trend line, this point will be about $69.8 then we can go back to the up direction.
Overlapping of triangle and head and shoulders patterns sounds completed, the closing price today is very important to confirm the price direction.
Something bad upcoming?
SPX chart with two bearish patterns.. Did markets lost own trust?
Nice moving today but reversal rising wedge in progress, so be ready for short..
USOIL showing Gartley pattern is completed and this is maybe the last chance to rebound before breaking the trend line support..
USOIL Currently on a good support area the up trend line & 78.6 Fibo. also we are waiting for AB=CD pattern which is can lead crude oil to the new high.
If the light crude oil CL1! hit the down trend it is possible to go down 35% of the trend length... this is monthly frame so be patient.
All given data showing that EURUSD at support area, moreover there is a butterfly pattern on the way.
USOIL With flag pattern, if it is hit the target that will be a good profit, it is around $6 GOOD LUCK.
USO progressing ABCD pattern inside Gartley pattern
This is not right time to buy Oil ..
UKOIL could be in Gartley harmonic pattern.. if not absolutely it is not time to buy Oil,,
Good chance if it is still moving above the trend line