Longterm picture of OIL, Fibonacci accuracy
Updated
I can clearly see where this is going.
My target for a definite low for Brent will nevertheless be at the area marked in Yellow with a thick Green line
The psychic border of entering below 20$ as well as the geopolitical crash that would occur makes me think there is no way we can enter below 20$ Brent
My target for a definite low for Brent will nevertheless be at the area marked in Yellow with a thick Green line
The psychic border of entering below 20$ as well as the geopolitical crash that would occur makes me think there is no way we can enter below 20$ Brent
Note
As the volume increased extremely in a bullish favor today, it seems we have not yet reached the top here now. The other tops have except for one been overshot by a significant number, where as this top now didnt overshoot. This tells me with the volume increase today that we will overshoot this top too. LongtermSHORT but ShorttermLONG. Target 43-44
Note
Beware of this scenarioNote
This scenario is dangerous because of the fall you can clearly see in the first blue circle, which has not yet occured now. Don't go all in on bear once you see it finally dropping, we might not be over the top just yet.Volume is definately picking up now. And most of it is bullish, which indicates the bulls are not going to give this uptrend away easy.
Note
The trigger for this scenario being a 4hr MACD rejection at the 0 line. If it goes through 0, shorts should still be ok.
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