WTI has been forming a flat A-B-C correction.
According to Elliott's wave projection, the oil future looks bearish.
Oil Future has accomplished wave A at 193.17 , and sub-wave (c) of wave ((B)) is creating an ending diagonal.
The ending diagonal is a formation of five waves. WTI is to occur in wave 5 of an ending diagonal.
If you are a safe trader, you can...
Currently, silver has jumped back into the uptrend area. It has also broken the parallel channel in the last trading session. But, the buy is not confirmed yet. The uptrend can be resume if it remains above 0.618 of retracement level and 3/1 & 8/1.
If that happens, then you can buy for the targets of 63900 - 65100 - 65960 - 68454.
What happens if it's...
Maple Tree Log Tr breaking Resistance level of 1.30.
Stock made low around 1.18 and shift upwards after forming Doji around this level.
Stock is rising in uptrend with strong momentum.
Momentum indicator like RSI also rising current value pointing to 65.0 level.
Stock can rise till 1.35-1.38 with support comes around 1.23-1.24
Genting Sing (G13) stock tested rising trend line around 0.960 level.
Stock can rise above 1.05.
As per moving averages trading sideways
can be also one indicator that stock going to trade side ways quite some time but give upside breakout after recent higher high formation.
Singapore Airlines stock will trade in range of 9.50 to 9.90. if stock break this trading range either on upside or downside.
As to look sector as whole airlines stocks globally have headwinds higher fuel prices.Recent fall in oil prices be good for these stocks.
Positive only above break of $10.Below 9.50 slide to 9.30-9.00
