Last week I posted an analysis on Oil and the high chances it had to get rejected and reverse lower. Oil price made a double top at 47.50$ and got rejected at the Ichimoku daily Kumo (cloud).
This was sent to our subscribers:
I’m short since 47$ and we could now be starting a new downward wave that could bring Oil to low 40’s…..trend remains bearish.
I remain longer-term bullish Gold (Since the turn of 2015).
The USDJPY has turned as expected and has already reached our 1st target of 111.25. The USDJPY is now testing important long-term support levels as we explained the important junction this pair was in this past post.
— Alexandros Yfantis (@alexanderYf) July 10, 2017
— Alexandros Yfantis (@alexanderYf) July 13, 2017
Thank you for taking the time to catch up on my thinking. I remain short USDJPY and Oil, long Gold.