OIL PRICE EXPECTATION FOR JUNE 2019

2 Haz 2019

Entering a new month - expecting an overall downward pressure on prices. The market has retraced already beyond 50% of the last uptrend, and would expect to see some profit taking at 61.8% level.

Expectations %
June bullish: 20%
June bearish: 40%
June ranging: 40%

**Please note the above material is for educational purposes only and not suitable for advise or for use of trading decisions**

31 Eki 2019

Not

Having revisited this study - I have seen the 61.8% level was a buy region. The month of June kept trading in the expected trading range between 50% and 61.8% until the 19th, which was then followed by the strong rally. The 61.8% was tested a few more times - wonder if there is a next time: will sellers manage to sell through it?