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The oil could make a technical rebound


The oil could make a technical rebound:
The oil has exceeded our key objective on 108.00 $ 105.45 dealing, fell about fifteen dollars from August 28 to reach this point could be corrected. The period of hurricanes for the next three weeks, exogenous political risks inherent in Iraq, Georgia, Afghanistan and Pakistan and the meeting of OPEC poutrrait harden the tone on October 9 in Vienna promote proachain this scenario.

The objectives of rebound:
The objectives in the short term Fibonacci are located on the levels of 109.15, 111.15, 112.90, 114.70, or 116.70. To achieve this, the oil will break the resistance zone located on the level of 111.40/111.80. A graphic image of the joint, the evolution of the consolidation would anticipate a zone of resistance embodied by the pillar of our high cylindrical located on the level of 118.10. Our goal fallback would then be positioned on the level of 100.50 and correspond to the last Fibonacci ratio of the entire increase in the first half of Protected content .

The limits of our strategy
In contrast, break in the very short term the level of 105.45 invalidate our scenario rebound intermediary to achieve the ultimate objective Fibonacci on 100.50. In addition, a stronger than expected rebound above the level of 118.20 would give a call to reach the level of 122.15. The Bulls following objectives would be located on the levels of 126.80 and 131.80.

Louis-Serge Real del Sarte
European Director at Global Equities