CRUDE OIL PRICES TECHNICAL ANALYSIS
Let’s start with the lows at 26$ and the expected run to 50 areas: it was written here
now I’m going to focus and test the sıtuatıon we have ,There are several interesting things
First, as I mentioned in a previous post – the oil is going to close the Gap area of the $ 40, and it did take place, it is possible to mark V
Secondly, I watched more oil was around $ 50, it would not go away, but will start to decline towards $ 40 where we look at it again
In terms of charts pattern , it shows the picture now is bearish As long as oil is found to be below the level of 43.80 – 44.60
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| crude oil |
COT position and MAP position
In terms of positions monument, we can see some interesting stuff
There is more room for decline – short traders advantage
pay attention
Periods of May 2015 with oil Positions
Then in August 2015 low
From the rise in price of property
And again in the same story in April 2016
The question is where it stops …….
There is more room to press down • Pay attention to the number of positions
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| oil position |
Technical Analysis:
If oil will move below 39.70 again the next stop will be at 37.20+_, we can see that there is even more room for lower prices numbers 33-35 area,
for my opinion crude oil expected to meet again 33-34$
The trend is bearish as long as crude oil stay below the level of 43.80 – 44.60
Move above will change the trend
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| oil analysis |
GOOD LUCK
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