UKOIL: Completed LT Inverted Cup and Handle?

6 Eyl 2015

Longterm chart at the weekly showed an inverted cup and handle formed from 2009 up to the present? Looking at the daily timeframe still reflects weak momentum on the upside, and strong pressure to the downside. Past weeks have been tough for the markets. China, Japan, and Europe all showed weak manufacturing figures. When the major economies are slowing down, can the emerging markets fill the gap? I don't think so. Expecting this to fall further.