Weely Report 14

Hello everyone,
The crude has a strong bearish trend and is systematically breaking supports, however remember that moment for the medium term bullish chart and what we are seeing now corresponds to a correction. Very different thing if we see the Crude lost 32,00 corresponding to the 61.8 Fibonacci level, which would worsen the graph below the 30.00 level with the 78.6 Fibonacci level, the loss of this level would visit new annual lows. This scenario as are the graphics seems difficult but not impossible. Without further ado let's see Graphs.

Dollar Index:
It tried to make a rotation to the top of the channel but has failed to reach 50% or channel, I still think that this chart is very bearish and 94,00 and 93,00 are target in the short term.


Vix:
Price outside the channel with a small divergence in structural support area that reminds us of "Sell in May and go away". However as is well shown the price can be at that level for a long time, however this is not consistent with a bearish scenario in the Markets, but American indexes about to  overcome critical levels, if this happens we will see new highs in US equities and Europe.


CL Monthly :
The previous month has left us a clear rejection area above 42,00 new highs. The RSI is in oversold and it makes more difficults to see new lows.


CL Weekly:
We see the corrective process that is bringing the oil in the past two weeks and RSI in neutral zone, as we discuss 36,00 is the objective of the pullback area and I hope that from this price level resume the upward trend.


CL daily:
Clearly it looks like in 36,00 have an important support area below 34,00 and 32,00 have and If the oil loses these levels we will see new lows and the graph will become bearish. So far everything indicates that we are in a strong corrective process since the last 8 sessions 7 have been down.


Short term Bearish Crude. Too see new highs in the chart we should see a least 2 close above 38,00 price leaving the bearish channel and a figure of accumulation or rejection candle in the reference levels.

Both the Dollar with the US market with the Vix support a rise in oil prices, we'll see if fulfilled.

Good Bye and Good Trading.

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