Britain agrees to pay $83.59 per barrel of Brent oil.

Market Leader informed

Brent oil price keeps growing.

Yesterday trading session at IСE Futures Europe marketplace ended up with a $0.36 increase. As a result the official price reached $83.59 per barrel.
In the meantime, GBPUSD is following the path of Brent oil. It is showing growth.

The Department of studying Masterforex-V trading system reports that at the moment the price is forming either bullish subwave a (C ) or wave C on H4. The elongation of the upward tendency is the most probable scenario. The alternative downtrend scenario will need a breakout of the defensive MF pivots and MF SCs* followed by FZR* of the corresponding wave level (not lower than H4).

Today’s key news (Oct 29th - GMT):
08:30 GBR - M4 Money Supply, Net Consumer Credit
12:30 USA - Prelim GDP, GDP Price Index, Employment Cost Index
13:45 USA - Chicago PMI
13:55 USA - Michigan sentiment index

S/R levels*:

1,6051 – 88% h8 + 162% h4 + Oanda’s orders
1,5998 – 76% h8 + 138% h4 + Oanda’s orders
1,5944 – the current price
1,5730 – MF pivot + 24% h8 + Oanda’s orders
5650 – the lower boundary of the mid-term flat + Oanda’s orders

Text: Mikhail Latypov, an expert of the Department of studying Masterforex-V trading system
--
MF SC = Sloping Channel by Masterforex-V

FZR = Fractal-Zigzag Reversal
S/R levels = Support and resistance levels

Full article in Market Leader

You are free to discuss this article here:   forum for traders and investors