Still seems bearish...next shortterm target 42,3$?
After the in my former Analysis exspectet break of the 44,5$, the downtrend and bearish momentum accelerated..
Former Analysis:
Shortterm view: Smells bearish
Shortterm view: Oil reached an action point @ 44,5. For me it really looks bearish ..the only thing that makes me thinking of is the oversold RSI ..because of the oversold situation i have illustrated the alternative way of my view (orange arrow). Prices below 44,5 are bearish - the tp copuld be 43$
Comments are welcome - agree or disagree !
Former Analysis:
Shortterm view: Smells bearish
Shortterm view: Oil reached an action point @ 44,5. For me it really looks bearish ..the only thing that makes me thinking of is the oversold RSI ..because of the oversold situation i have illustrated the alternative way of my view (orange arrow). Prices below 44,5 are bearish - the tp copuld be 43$
Comments are welcome - agree or disagree !
Note
Jihaaaaaaaaaaaaa - downmove is in full swing!!! Note
only trading above 43,3 will brighten the shortterm chart Note
oil fully reached my shortterm target - nokw the Situation is strong overwsold in this timeframe.... RSI oversold - Price out of the BBs!!! It has toswing back a bit and reenter the BBs.! Note
big Picture: we are trading near the big 38,2 fibo - the possible right shoulder. In the daily, there is place for a further downwave ( 41,8 / 38,8), the Situation is not yet oversold Note
the 38,2 fibo @ 41.92 magically attracts oil ! Note
Note
42.6 / 42.4 are the Levels to watch for shorts (shortterm) - the chart only brightens above 43$ in this timeframe Note
reached next Action Point rsi nearly oversold in this timeframe Note
RSI again nearly oversold - perhaps oil will test the 41.90 again before the next doenwave Note
oil reached next action Point! Note
aha aha Note
Note
Note
reached again an Action Point! Note
Flag is active now Note
perhaps we will see a retest of the bo-niveau @ 41.65 - the rsi is oversold again Note
Note
oil nearly reached tp Note
will we see a dip to 40.5 today? Between 40.5-40.75 i exspect a shortterm countermove Note
DING DONG!! TP reached!! CHEERS! Trade closed: target reached
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