Q3 ends around yearly low @ 90ish area, which represent the neckline for next direction, Q2 extend losses below 161.8 @ 93.00, before the Q3 closed, AUG print a strong bearish weakness @93.00 ext 161.8, one month preior to Q3 close, but the close was so agressive and we exceed the 161.8 limitation, after what happened PRICE ACTION hint us that the 93.00 EXT161.8 could tearn resistant, that wat we saw on the biggining of Q4 that why i called it bearish strength, and because we are in the end of the Q4 and the yearly flows are going to end....
90ish level will not be easy to break, eventhough we are seeing the dollar gaining strength because of rate hiks, and because of direct effect of OIL it self as we saw that we have increase on supply and shrink in demand do to some major economic mover such as china start to have bad figure on Q4....
geopolitical issues is the catalest them for doing this chart, nonetheless export contries start to panic from low oil prices and OPEC are going to say something on the middle of november, i advise you to step a side till we have this month clsoe .....
90ish level will not be easy to break, eventhough we are seeing the dollar gaining strength because of rate hiks, and because of direct effect of OIL it self as we saw that we have increase on supply and shrink in demand do to some major economic mover such as china start to have bad figure on Q4....
geopolitical issues is the catalest them for doing this chart, nonetheless export contries start to panic from low oil prices and OPEC are going to say something on the middle of november, i advise you to step a side till we have this month clsoe .....
