WTI now appears to be forming a top, after the price action last week our $60+ scenario appears to be becoming lesss likely, although still possible it would appear as though our dead cat bounce is running out of steam and our lower lows will be coming sooner than we anticipated.

We anticipate that the 50 will fail to get above the 100 day moving average and they will both converge negatively as price begins to fall over the coming weeks.

Our EURUSD forecast continues to be bearish and on track for lower lows over the coming months, the 100 day moving average continues to fall as expected and we anticipate price to start falling below support over the coming weeks. We will be watching for the 10, 20 and 50 day moving averages to be in bearish alignment over the next week or so as an indication that our bearish forecast is very probable.

The FTSE continues to consolidate and form an intermediate top, we expect more weakness over the coming months but we are also interested in the possibility of a long term low ocurring in 2017. For now we are expecting the 10 and 20 day moving averages to converge with the 50 and then to cross over.

You can follow our free short term forecasts on our web site, we post regularly on our twitter account which is embedded on our home page. You can also sign up to receive a free longer term forecast delivered to your inbox every weekend.

Because we now publish the underlying patterns our subscribers get unrivalled access to some of the most unique forecast charts available, and get a trading and investment edge over their competitors.

Our forecasts are fractal patterns that last for months and years, we monitor the development of these probable patterns continually to ensure we are on track. Our methodology is to create a most probable long term fractal pattern and then continually test it and model it over multiple time frames to ensure the pattern remains a probable event.

Ken Ticehurst
You can read more about our unique foresting system and moving average momentum analysis at our website: http://www.kenticehurst.com

Copyright 2016, Ken Ticehurst. All rights reserved.

Disclaimer: The above information is not intended as investment advice. Market timers can and do make mistakes. The above analysis is believed to be reliable, but we cannot be responsible for losses should they occur as a result of using this information. This article is intended for educational purposes only. Past performance is never a guarantee of future performance.

Only logged in users are allowed to post comments. Register/ Log in

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.