Financial Wave. CLCL
Our preferable scenario for CL is to drop the price to $68. The $83-$86 range is key for the CL, the $86 price move cancels our scenario.
Brenttrade
WINTER IS COMING - BRENT STABLE?This graph is a representation of my point of you of the futures market (USD).
BRENT CRUDE OIL BEARISH PREDICTIONSPrices of petroleum are declining due to increased output by OPEC and United States and weakening demand by the Chinese economy.
RSI index of the Daily graph of BRENT is below the neutral line of 50, and MACD histogram, although still above 0 line, is declining.
If the price keeps falling, it might test its previous support at 91.50 and if it breaks it, it might target levels of 84. Alternatively, it might try to reach levels of 105.5
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BRENT to reach $70 soonI've been expecting this for a while now, since brent hit $75 for the first time in teh recent weeks. but it seems to resilient and doesnt seem to fall back to support around $70.
But i think im clocked it... brent has almost reached $73 as calculated. I think we will see a pull up to around $75 again as teh selling pressure has already weakened.
But from $75, there is a high probability that brent will continue its downward move towards $70.
When it does reach $70... im buying Brent, as i dont think it will fall significantly below this anytime soon.
