After the head & shoulder patten completed by end of July, oil price has been in free falling channel starting with -25 degree of steepness and currently in -54 degree of steepness. It is liken to a roller coaster ride almost 3/4 down from a top. Yup, that is that kind of craziness analogous in this price. Can price fall all the way to fibo 2.618 level of 64.66? when my previous post shown support around 68.
This is the time when investors do not want to miss the boat. They will go short full blown hoping to catch the downside momentum. And of course they will make some initially only to give more back to Mr. Crude Oil later.
This is the time when investors do not want to miss the boat. They will go short full blown hoping to catch the downside momentum. And of course they will make some initially only to give more back to Mr. Crude Oil later.
