Energy prices have broken rather hard over the past eight hours, so much so we have actually done some serious technical damage to the charts. Considering we rallied up to kiss the bottom of the Optimal Trade Entry (OTE) Short zone, momentum was divergent and our Willy was officially 'stupid overbought', it should not surprised us to see this kind of price action. Having said that, price has broken down and if not short from the 61.8 tag (102.19), one does have a double top price pattern to work with from about 100.89. Downside targets are initially a test of the March lows (97.34), the OTE long sweet spot (95.33) and the bear ab=cd target (point D. 94.36).
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If my charts help you, or you use my indicators...
please consider a BTC donation to allow me to
continue my work :
1EBttA56cWsgtsZn83VGiNT8si7inZV5Z5
& follow me on Twitter @CRInvestor
Additionally, if you have questions about my indicators feel free to inquire as to when my next Google hangout tutorial session is scheduled so you can ask me in person...
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