This long consolidation appears to shape as a triangle so far
評論
⋅
US could exit Iran deal as early as next month. Quarterly certification in mid Month, Trump was aggressive yesterday. Could that be the MidEast catalyst I have been looking for?
評論
⋅
More indirect signs of rising MidEast tension plus LT cycles turning bullish. Good so far
評論
⋅
Solid, more and more triangle like which of course means one larger wave missing
評論
⋅
Good bounce from 55 wma and Iranian decision coming soon. Appears to me triangle on the way to be completed
評論
⋅
Oil appears to be ready for a new upleg or close to completing the consolidation
評論
⋅
Next week we have Oct 26 and oil is ready to breakout finally from this long long consolidation
評論
⋅
Oil at multiyear downtrend resistance. If overcome (base case) then upside is open initially to mid/high 60s