CL.F, MN - USD 9 per barrel of oil? - Continuation
A month ago we have described a potential head and shoulders pattern on the oil futures market. According to this pattern, the textbook target may be located near 9-10 USD per barrel.
This could be a still possible target for the price (if there were no contango and contracts rollover). In this area also the 161,8 fibo expansion is located. It should be interesting to watch this area in the possible coming days or weeks.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
This could be a still possible target for the price (if there were no contango and contracts rollover). In this area also the 161,8 fibo expansion is located. It should be interesting to watch this area in the possible coming days or weeks.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
