-Minor-Major wave counts seem complete
-Watch out piercing of trend line (blue line)
-Resistance zone limit reached
-Divergence at multiple indicators
-Some strong sell-off for the last few hours, maybe considered as thrust.
Do not start selling short until more confirmation.
-Watch out piercing of trend line (blue line)
-Resistance zone limit reached
-Divergence at multiple indicators
-Some strong sell-off for the last few hours, maybe considered as thrust.
Do not start selling short until more confirmation.
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I expect another very short long rally to the 2100 levels, bouncing back from the blue trend line. That would signal finally the end of the bull trend. From there on just watch the strength in which the blue trendline will be broken down. If there is strength, I would expect a good deal of bear market for the coming weeks and months. Good luck.
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First signs of a breakout (in the down direction) is happening know. Still early to sell short
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Still bearish, but no significant bear thrust yet. The price slowly moved below the trend line.
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Trend line broken down. See chart below.
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On track with this one. Notice how utilizing multiple analysis tools pinpointed almost correctly the trend change. Also check out my Oil analysis and prediction. Regards.