OIL moved nicely
higher last week and closed above 97.00 key level which means that bullish
trend is probably confirmed if we consider that three wave retracement from
early May high appears complete. If we are correct then rally from 91.20 should
unfold impulsive. With that in mind, we expect further strength on oil as we
need five waves up from 91.20. Right now we see prices in the middle of a black
wave 3 that may be targeting 99.30/100 area this week while market trades above
96.40.
Oil 4h
in the initial diagonal triangle wave all impulses in the pulse is always the third impetus
ReplyDelete