An Adam and Eve bottom in Oil

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    All of oil's price action of the last two weeks can be viewed as an Adam and Eve a variant of the double-bottom, which makes for a potentially powerful upside reversal; With a breakout signal above 37.80 in WTI and 39.39 in Brent, traders would feel more confident that serious inroads to the 40/45 levels could be achieved; Minimum upside objective of the aforementioned chart formation is 41.30 in WTI and 42.85 in Brent, price levels which will intersect mid January with the downward sloping

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