Weekly Review:
During the previous week, Crude oil rebounded from the lower supportive, headed long and is currently trading along a very significant pivot level $33.9. We are waiting for a clear break out above $34.64 to mark the continuation of the upward trend. The anticipated upward rally should have an ultimate stop at the upper resistive trend line at 47.03. During this week, we expect to continue with the five wave cycle with wave (4) ending at the upper restive trend line.
Trade Recommendations:
During this week, wait for a clear break out above 34.64, then look for long positions with your targets at 40.19 and the upper restive trend line at 47.03.
Oil Weekly Review
Origin: FreshForex
