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Friday, April 06, 2018 9:13:20 AM
By: MPTrader | April 5, 2018
The more I look at and analyze the pattern the has developed in Crude Oil since its high on 1/25/18 at $66.66, the more I think it is carving out a large coil formation atop the upleg from the June 2017 low at $42.05, which if accurate, means that we should expect another UPLEG that will project to $70.00 when the coil is complete. As long as any forthcoming weakness is contained above the $61.60 area, the bullish resolution to the pattern will be my preferred scenario-- radically altered in the aftermath of the mid-March Bear Trap that probed a potentially serious breakdown at $60.00, but never materialized.
4 05 18 Oil 4 hr 140 GIF
4 05 18 Weekly Crude GIF
https://www.mptrader.com/middaymarkets/
• DiscoverGold
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Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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