Crude oil : rise on a medium term basis

Yearly trend: higher

 

On a yearly basis, the pattern in progress looks like a parallel pattern. A PEI is in progress with our MACD. Our 7 / 23 years moving averages are always on a bull trend.

Idea:  UY / LY spread increasing each week

Bet: towards UQ is not ruled out.

R= 100, PQ (115.14)    S= MM (77.49)

 

Long term: higher

On a quarterly basis, the spread UQ / LQ is maximal. TAM are up.

On a monthly basis, the spread UM / LM is shrinking and not far away from its reference level. A NEI is in progress with our Bollinger bands.

Idea: rise as long as our MACD is not overbought

Bet: no bullish pattern could develop.

R= 100;   S= MM (77.49)

 

Medium term: bullish parallel qualification

On a weekly basis, a bullish type II PEI is in progress.

Idea: use bullish parallel rules

Bet: higher

R = UW (94.65);    S = PW (87.25), MW (84.29)

 

Short term: flat

On a daily basis, our Bollinger bands spread is a reference one. TAM are neutral.

Idea: UD and LD are our targets

Bet: wait for a bullish signal.

R = UD (92.44);    S = LD (88.4)

 

Conclusion: higher on a medium term basis.

 

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