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How You Could Make £2,850 Per Month

Navigating The Bullish Crude Cycle

Commodities / Crude Oil May 11, 2018 - 03:52 PM GMT

By: Science_Investing

Commodities From A Technical Analysis Perspective
Crude remains short-term bullish as long as the nearest WTI contract trades above the blue dotted horizontal support region.

Oil ran up and made higher highs inside the pale blue trend channel. The progress got confirmed by geopolitical newsflow. Moreover, the most important commodity price gained despite a stronger US dollar. A breakout above the January 2018 high got further traction after being retested at the end of April 2018. Oil prices surpassed the solid blue trendline spanning back to June 2016 this trading week. We asses that as a fake breakout as part of a leading diagonal. Oil prices are likely to correct into the 66.50-67.00 region before resuming the uptrend.


A word of caution is appropriate as long as prices hang out above the solid blue line (around 69.75). A fake breakout has to be confirmed yet. The structure could easily extend up. The trend is up and surprises should be expected into the direction of the trend.

About The Author

Our background lies in economics and trading. We have been trained at reputable universities and worked as proprietary traders as well as portfolio managers throughout the past couple of decades. We started exploring the field of behavioral economics due to self-interest in the late 90’s.

Our goal is to contribute outstanding technical analysis and forecasting. We focus on the most liquid assets that are subject to worldwide public attention.

Please visit us for more information:

http://www.scienceinvesting.com/
© 2018 Science Investing - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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