Cylindrical study on Light Crude Oil can anticipate training on a monthly chart type 'Morning star' as the Muné Hisa Homma model. It is characterized by a sharp drop in December, an opening near the end of January in which we are signing this evening on the last day and rising prices in February.
A close at the end of February on or above $ 54.75 level would confirm this scenario. Having signed a double bottom 'on the levels of $ 32.48 and $ 32.70 for December and January undermine our strategy strongly bullish with the confirmation of a ' bottom Twizzer pattern'.
The seven consecutive months of falls to pass the level of $ 147.27 to $ 32.50 as can anticipate a rebound sustainable calculated according to the Fibonacci levels of 54.75 $ 61.00 $ 78.00 $ 90.00 $ even $ 103.50. Resistance to cross to achieve would be located on levels of $ 48.00, $ 54.75, $ 67.90 and $ 78.00. Conversely, a break below the major support on the level of $ 32.50 invalidate this bullish strategy.
Louis-Serge Real del Sarte