A Small Smile curve has been developed. Next to develop a bigger Smile Curve. Behind the News . Leading Indicator Gold has smile. . Commodity Price Index Smile, too. . S&P500 & Dow Jones Industrial index smile, too. . The news does not disclose what mutual understanding between Iran, Saudi, and Russia, we never know, but after their meeting price going up is a fact.
An invisible hand is steady buying from the market, and is ready to challenge Season Average. Reason as following: 1. Last Friday(2016/2/26) a fast correction, forming a red cross hammer. (Bearish message) But this Monday(2016/2/29) the price going up eating the red cross hammer's 97%. Indicating the it might be a fake bearish sign) 2. 3 lifters forming a...
If it is still bullish: According to the past 1.5 month correction experience, there are 4 possible correction patterns: 1. RED: Fast correction - Target at 33.1 2. Blue: Fast, too - Target at 33.0 3. Pink: one week correction: Target at 31 4. Brown: one and half week correction: Target at 33.8 After a healthy correction, then next move might be target at USD$38...
Is it a weight lifting pattern? If it is a weight lifting pattern, then maybe it will dance a limbo wave here for a while. After that it might break the major resistance 37-38, and goes up. Limbo wave dancing Range Trading: Upper limited: 37-38 Bottom Support:33-34
Maybe it is forming a smile curve, but Please Please watch out correction
Brent Crude Establish a minor bullish flag after break 5 months down trend line. Will it continue to establish a new higher high(35-36)? Need to pay attention during Next one month period.