Oil new low but is reversal so close?
Oil at new higher low does not take any clear reversal signal. Macd is not clear but is preparing, rsi is preparing but previous reverals were at lower level (but is preparing to reversal, is close to trend line), stoch is ready but it could wait some time at this level,Heiken Ashi didn't lounch signals of reversal.
We are at fib .382 and .618 is placed about 43.80.
That said the next week could be really important to take some profit if it retrace to fib or get the reversal's "take off" but my thinking is that we need some higher lows near support line.
Watching at montly, in fact, you will see a familiar pattern that could lead to new higher lows and all indicators are not so ready to get clear reversal's signals and the downtrend seems not completed.
Best buy's level could be at this support line (with a wonderfull idea about 11 november, historical joined with usa election's period) in the ellipse area.
We will see ready to push the button the next week or to take some cup of coffee waiting again.
We are at fib .382 and .618 is placed about 43.80.
That said the next week could be really important to take some profit if it retrace to fib or get the reversal's "take off" but my thinking is that we need some higher lows near support line.
Watching at montly, in fact, you will see a familiar pattern that could lead to new higher lows and all indicators are not so ready to get clear reversal's signals and the downtrend seems not completed.
Best buy's level could be at this support line (with a wonderfull idea about 11 november, historical joined with usa election's period) in the ellipse area.
We will see ready to push the button the next week or to take some cup of coffee waiting again.