Oillong
OIL, 5th wave of this expanding flat to complete...5th wave to complete on this last push down then upside projection to the pink line is what I am looking at. London & New York sessions tonight presenting some solid moves perhaps...
OIL Cup and handle bullish patternOil has been making a decent trending higher high and higher low. The price has formed a nice cup and handle structure which might see it target the 66 dollar per barrel price tag.
WTI Oil Long set up, starting bullish trend again.OANDA:WTICOUSD has now approached buying zone. The following trend indicator is based in a combination of two bollinger bands with both one and two deviations.
When the price enters the higher-end of the channel, it means the trend has started and its time to buy now. The current political tensions in the middle east should provide some support to the current trend.
Its also worth noting that the MACD indicator is indicating bullishness, since its values are above 0.00 and the price just recovered from some significant losses from the past week
Black GoldWe can see price pushing up into our resistance zone and then coming back down to test our trend line for its 4th touch and smashing through it.
CRUDE OIL OBSERVATION OVERVIEWPlease be aware mostly visual demonstration, any verbal descriptions comes at the end when drawing harmonics.
