Short term idea, nice cup/handle forming, needs a 50% retrace to validate, and an overlay of last years price, same time period for reference.
Expect near term short oppty, and then perhaps a prolonged decline for the season, or a snap back up to $52 then a decline.
... but here is the chart anyway.
the normal caveats for oil follow... geopolitical risks, major currency issues.. you get the idea.
Expect near term short oppty, and then perhaps a prolonged decline for the season, or a snap back up to $52 then a decline.
... but here is the chart anyway.
the normal caveats for oil follow... geopolitical risks, major currency issues.. you get the idea.
Comment:
continued movement above trend break