Inverse Head and Shoulders pattern in oil targeting 38$

ΔΩΡΕΑΝ ΠΡΟΣΒΑΣΗ ΣΤΗΝ ΥΠΗΡΕΣΙΑ GREEK STOCK MARKET ANALYSIS
January 27, 2016
Equity indices analysis
February 4, 2016

Good day to all…I’m bullish Oil for several days now and as subscribers of my premium sms service already have seen, I ‘m long since below 30$ and I expect a multi week bounce that will at least reach 38$ in the short-term and why not even higher.

TIMESTAMP

Oil prices have formed and inverse head and shoulders pattern and today is the day we are challenging the neckline. A breakout above 33$ will open the way for a push towards 38$ which is the same size target as the head of the pattern.

oil

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Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.