
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
2019-11-11 • Updated
Recommendation:
SELL 0.9955
SL 1.011
TP1 0.9855 TP2 0.983 TP3 0.976
On the daily chart of USD/CHF, the 113% target of the “Shark” pattern was reached. If the pair reaches the convergence of 1.0130-1.0210 (targets of “Shark”, “Wolfe Waves” and AB=CD patterns), the risks of the return towards 23.8%, 38.2% and 50% from the last upward wave (CD) will increase.
On H1, the buyers’ inability to move the price up increases risks of reversal “Broadening Wedge” pattern’s formation. To achieve this goal, sellers need to pull the price back to the support at 0.9955 and break it.
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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