Oil breaking down broke 80's, where to now!!
See previous analysis oil heading towards the 1st price support at 77.80-76.50. currently at 77.10.
Break below 76.50 then expect 75.50-74.60 support, break below 74.60 then 73.11-71.10 probable.
Recap:
AB=CD PATTERN 95-81.50= 90-(77.80-76.50 OR 73.11-71.10) active
XABCD PATTERN = 95.00-81.50-90.00-84.00(???) D= 92.10-93.45 OR 96.74-98.66 OR 100.60-103.33
C= CD, where cd= 77.80-76.50 or 73.11-71.10, after this then D phase will be in play.
Where D= 92.10-93.45 OR 96.74-98.66 OR 100.60-103.33
Break below 76.50 then expect 75.50-74.60 support, break below 74.60 then 73.11-71.10 probable.
Recap:
AB=CD PATTERN 95-81.50= 90-(77.80-76.50 OR 73.11-71.10) active
XABCD PATTERN = 95.00-81.50-90.00-84.00(???) D= 92.10-93.45 OR 96.74-98.66 OR 100.60-103.33
C= CD, where cd= 77.80-76.50 or 73.11-71.10, after this then D phase will be in play.
Where D= 92.10-93.45 OR 96.74-98.66 OR 100.60-103.33
