Crude has a bearish week even with bullish report. In the weekly TF, it looks like a thrusting pattern where a continuation of the bullish pattern may continue.
In the daily TF, a ABC elliott wave pattern could be seen as mentioned last week (http://tachartreading.blogspot.com/2017/06/crude-oil-trading-weekends-post-for_24.html). 49 -50 could be the target of this wave.
In the monthly TF, price is trying to break the mid of BB. It has to hold for price to go further up. There are already 4 months of red candles. We shall see what is in store for crude oil.
In the daily TF, a ABC elliott wave pattern could be seen as mentioned last week (http://tachartreading.blogspot.com/2017/06/crude-oil-trading-weekends-post-for_24.html). 49 -50 could be the target of this wave.
In the monthly TF, price is trying to break the mid of BB. It has to hold for price to go further up. There are already 4 months of red candles. We shall see what is in store for crude oil.
Daily support/resistance on 10th July: 44.42, 44.60
Weekly support/resistance from 10th July - 14th: 44.74, 45.55
Weekly support/resistance from 10th July - 14th: 44.74, 45.55
Monthly support/resistance for Jul: 46.09, 45.61 (CLQ7: 46.13, 42.73 ; CLU7: 46.35, 45.92)
Monthly support/resistance for Jun: 48.38, 47.88 (CLN7, 48.44, 48.07; CLQ7: 48.68, 48.34)
2017 Yearly support/resistance: 49.35, 40.28
2017 Yearly support/resistance: 49.35, 40.28
No comments:
Post a Comment