crude oil technical analysis update
From my last post:
http://www.daytrade-profit.com/
“from Looking on number of things, I get some other impressions
For a long time, I analyze the relationship between the Canadian currency prices and oil
I spoke about this correlation many times in recent years.
now i see there two patterns who catch my eye:
oil chart is in Type of building wedge, it could leading to prices corrections over 50 $
Another thing that watched in Canadian dollars charts
It seems, which makes the same move that was in 2006-7, which led a sharp correction.
As a reminder, you can watch my post on the usdcad in the 1.07 price level That noted usdcad is going to 1:31.
Now, remains to be seen whether this time too it will come……
If yes, then I predict targets, 1.24-1.19 in usdcad area with oil prices in 51-55″
now lets face with the situation we have:
oil eagerly tuned to the 37-39
Support for further correction to the level of 29.30
Breaking the 29 mark for the duration Descending
Conversely, breakthrough will lead to the region 37-39 46-48
Canadian dollar analogy:
Breakthrough area 1.4340 + _ give the approval to continue the course of the weakening of Hdolrhkndi
In contrast, correction can reach up to this level when Combine the oil and currency
+ 29.30 area equal – level of 1.4320 to 60
Area 37-39 corresponds oil level H1.38-9 usdcad
Area 46-48 corresponds to the level of 1.31 usdcad
As if these levels are breached then the target is 52-55 with usdcad at 1.23-7 +_
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This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice
