Long Position Profit Taking
2016/04/23 We estimated the wave might target at 52.56. And we hold our long position and continue to aim at this target on 2016/04/29
This week the price move a high at 52.83 on 2016/06/09, it hit our target, and we liquidated all of our long position.
We think the Brent Crude Oil might be in a bullish market trend right now. The big wave start, but be watch out that it maybe will have a correction.
Correction Signal:
1. Satisfy with the target.
2. Weekly Chart show a big hammer.
3. Price going high, but volume decrease.
4. Friday Candle Chart was a full dark down penetrating 5 MA and 10 MA, and closed under 10 Moving Average.
5. Here (52 to 54) is another neckline range since last time(2015/08/31 to to 2015/10/09) starting to drop the price down to 27.08 on 2016/01/20. Here is heavy Lock-in Zone.
We now are free hand to observe a good change to going long.
This week the price move a high at 52.83 on 2016/06/09, it hit our target, and we liquidated all of our long position.
We think the Brent Crude Oil might be in a bullish market trend right now. The big wave start, but be watch out that it maybe will have a correction.
Correction Signal:
1. Satisfy with the target.
2. Weekly Chart show a big hammer.
3. Price going high, but volume decrease.
4. Friday Candle Chart was a full dark down penetrating 5 MA and 10 MA, and closed under 10 Moving Average.
5. Here (52 to 54) is another neckline range since last time(2015/08/31 to to 2015/10/09) starting to drop the price down to 27.08 on 2016/01/20. Here is heavy Lock-in Zone.
We now are free hand to observe a good change to going long.
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