WTI Brent Crude Oil

Oil Uptrend Should Continue Towards 44.35

Oil is pushing up strongly as new swings form. We have a zig zag to the upside, and fresh buyers might come soon.

41.40-41.73 is the POC. X Cross clearly marks the ATR projection low. With the confluence of X cross, W H3, ATR low, I assume this is where buyers are. Targets for the move are 42.27 followed by 42.85 and 43.45. Above 43.45 we should see 44.35, the final daily and weekly target. Oil is bullish and buying the dips continues.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.