AUDNZD Long Divergence Head and ShouldersThe AUD has been weak, and the NZD has been strong, which has caused this drop. We could be expecting retrace to the 50% line, especially considering that there is divergence with the MACD. Also, we have an upside down head and shoulders, so there are lots of things pointing towards a 2-5 day ride up.
Shorttermbull
UKOIL on 11th of February and two weeks ahead
Oil is continuing to follow the pattern of the March 2015 movement. The Green lines here representing a perfect clone of the trend line from the low of 13th of January 2015 all the way to June 6th. Which this run from January 20th 2016 has held up amazingly similar. You can also see the H&S pattern from that time in 2015 being perfectly alike the 2016 H&S pattern.
But don't mistake this bullish area of being the start of a Bull period. UKOil is still very bearish and will not move up above 41 in the next month. Where as I believe the high will be between 37-39.