WTI Crude has reach historical TL support
The OPEC discussion In November 2014 has ultimately confirmed the formation of a triangle on the monthly chart.
The WTI crude has replicated somewhat the momentum of the 2008 crash. Giving way for a probable bullish correction in the net 1/2 years. Rejection at the supporting historical TL will push price back upward toward the 50/61.8% FIB levels where ichimuko cloud resistance and span resistance will cause threat. This can be a long term trade for investors however is a sign that long positions are more probable for medium term traders like myself. The triangle indicates a bearish push, by 2020 we may see oil at less that the historical support at 38.50.
The WTI crude has replicated somewhat the momentum of the 2008 crash. Giving way for a probable bullish correction in the net 1/2 years. Rejection at the supporting historical TL will push price back upward toward the 50/61.8% FIB levels where ichimuko cloud resistance and span resistance will cause threat. This can be a long term trade for investors however is a sign that long positions are more probable for medium term traders like myself. The triangle indicates a bearish push, by 2020 we may see oil at less that the historical support at 38.50.
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