Spectra Energy:
A price channel has developed over the last two weeks. A double top on Dec 10 indicated an uptrend that should end tomorrow with the completion of an elliot 1-5 bull impulse. Conversely, an ABC corrective pattern may occur just above the resistance level of 26.
Next, SE will drop towards 21$/share following a drop in oil prices. A drop in oil prices will occur due to strengthening dollar vs developing countries, and a drop in oil prices will occur due to the nullification of export sanctions vs Iran. The 20$ price target is created by referencing the past two bearish impulses and referencing the previous low at 21.50.
Finally, MACD 4C convergence occurring next week. The convergences indicate a major change in price direction.
A price channel has developed over the last two weeks. A double top on Dec 10 indicated an uptrend that should end tomorrow with the completion of an elliot 1-5 bull impulse. Conversely, an ABC corrective pattern may occur just above the resistance level of 26.
Next, SE will drop towards 21$/share following a drop in oil prices. A drop in oil prices will occur due to strengthening dollar vs developing countries, and a drop in oil prices will occur due to the nullification of export sanctions vs Iran. The 20$ price target is created by referencing the past two bearish impulses and referencing the previous low at 21.50.
Finally, MACD 4C convergence occurring next week. The convergences indicate a major change in price direction.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.