In the previous post on the daily bar chart pattern of WTI Crude Oil, a 'reversal day' bar on daily chart and a 'gravestone doji' candlestick on weekly chart had raised concerns about the formation of an intermediate top, with a correction to follow.
That is exactly what oil's price did - falling to its 50 day EMA, bouncing up to a lower top and then dropping below its 50 day EMA on BrExit concerns.
Bulls need not lose hope just yet.
-- That is exactly what oil's price did - falling to its 50 day EMA, bouncing up to a lower top and then dropping below its 50 day EMA on BrExit concerns.
Bulls need not lose hope just yet.
Read more at:
http://investmentsfordummieslikeme.blogspot.in/2016/06/wti-and-brent-crude-oil-charts-update.html
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