Wednesday, 5 July 2017

Crude Oil (CFD) weekly


Crude oil completed the 8 year correction at the end of 2015. This is the main player amongst the resources and has influence upon the markets and upon the resources sector in particular. Wave 1 appears as a leading diagonal and produced a divergence.
History shows that general equity markets take strain as resources recover. The 3rd impulsive wave of the resources recovery is likely to bring a major general equities correction.  
The daily chart suggests wave 3 has commenced...

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