if you look at the gp on a log chart the price is sitting right inside GP. I relocated the fib to lower high to putting .38 at the higher low which is consistent with many support and resistance zones ... I will leave it there. Omicron Imo is signaling the end to the pandemic, we have a boatload of tankers sitting offshore still just waiting. either the economy returns to full swing.. and oil spikes or we find a happy place and chop a little.
Rsi on the day has room to move still which means higher a head. I set rsi to 10 for early warning.
my range for oil is $55 for the low low. and $118/$128 for the top for long-term swing plays.
historically $45/bbl is the break-even for most producers. This may have changed with inflation.
Rsi on the day has room to move still which means higher a head. I set rsi to 10 for early warning.
my range for oil is $55 for the low low. and $118/$128 for the top for long-term swing plays.
historically $45/bbl is the break-even for most producers. This may have changed with inflation.