October 28, 2014

CRUDE Oil trend update

  • The Month time frame is shown with Fibonacci levels. It shows a broad range between 38.2% and Golden ratio. So this is roughly between 74 - 77 to 103 - 112. Price right now is testing the bottom of this range.
  • Second chart is the weekly time frame with possible support levels.
  • Ichimoku cloud of Daily Time Frame will act as shield for Crude oil bears.
  • 4 Hour time frame shows a bearish Descending triangle pattern. Mostly acts as a trend continuation pattern. 
  • Crude oil bulls must hope for a Basing formation around 74 - 77 for a possible up move to happen.
  • EURUSD Trend Update

No comments:

Post a Comment