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315
SUPPORTING TECHNICAL ANALYSIS:
ANALYSIS BASED ON PHILIP PANKAJ:
PRICE PENNANT AND NEUROWAVE SCALPER PENNANT SHOWS BULLISH CONVERGENCE WITH A BULLISH BREAKOUT ON BOTH DATA.
TARGETS ARE CALCULATED BASED ON FIBONACCI LEVELS.
FROM 1990 TO 2019,ROC OF DAILY PRICE HAPPENED ON 16 SEPT 2019 IS 14.6 % WHICH IS EXTREMELY RARE AND A BULLISH BREAKOUT,NOW THE PRICE IS RETRACING THE BREAKOUT LEVEL.
SUPPORTING FUNDAMENTAL ANALYSIS:
SAUDI ARABIA OIL DRONE ATTACK WHICH INDEED CAUSED ARAMCO TO CUT OIL SUPPLY BY 50%,THUS CREATED DEMAND FOR OIL.