SINGAPORE: It is expected that US oil will fall more to $51 per barrel.
This is the fifth wave of a five-wave cycle that started from the Dec. 22 high of $58.53.
The cycle has been developing within a falling channel, the lower channel line of which points to a target at $51.
Strategically, the target will be confirmed when oil drops below a support at $52.06, the 161.8 percent Fibonacci projection level, based on the length of the first wave, the wave (1).
Resistance is at $52.86, the 138.2 percent level, a break above which may cause a moderate gain to $53.66, the 114.6 percent level.
Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
