USOIL: Bullish signals
Downtrend failure inminent, I suspect the OPEC meeting outcome will seal the dollar and crude oil's fate here.
Analysis on chart, we have what looks like the beginning of a fifth wave here, after the current daily downtrend signal was reached ahead of time.
Price is about to cross above the mode after two strong daily bars, where buyers were in control.
I'm tempted to declare this as the start of a strong uptrend, but for now, the targets are on the chart.
This is very bullish for the Euro and bearish for the Dollar accross the board.
Cheers,
Ivan.
Analysis on chart, we have what looks like the beginning of a fifth wave here, after the current daily downtrend signal was reached ahead of time.
Price is about to cross above the mode after two strong daily bars, where buyers were in control.
I'm tempted to declare this as the start of a strong uptrend, but for now, the targets are on the chart.
This is very bullish for the Euro and bearish for the Dollar accross the board.
Cheers,
Ivan.
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