Crude Oil Bounce?
For the dynamic traders that like oil, the daily Advanced Get chart below shows some interesting signs of weakness. XTL is red but we need this confirmed first otherwise look for a 123 bounce then a trendline and MA break.
Those who traded the CHFJPY should be in good profits which are increasing today. I have opened another position add the breather level which seemed like a bearish flag pattern.
In the coming months we could see oil decline to around $80 and even $60 and find a base there if the technical path continues with supports being breached. I know of one dynamic trader that has hugely benefitted from oil in the last year.
Crude Oil Daily Advanced Get Chart.
Anne's forex blog.
Labels: crude oil