I begin weekly analysis with oil first.
Last week, oil bounced back from the month low $41.22 and tested strong resistance at $44
Look at on the chart, oil fell under the old range and the strong support became strong resistance.
I don't believe Oil could break this strong resistance and favor more agressive downtrend to year low $28.45
THE PROBLEM DOESN'T COME FROM DEMAND AND SUPPLY BUT HIGHER.
THERE IS A " DARK FORCE" WANTS OIL DECLINES. THIS IS A CONFLICT INTEREST AMONG POLITICAL FORCES.
I THINK OIL PRICE WILL RAPIDLY FALL BELOW $30 .
WITH FORECAST BETS ON OIL FALL, I CONTINUE BUYING USDCAD.
Last week, oil bounced back from the month low $41.22 and tested strong resistance at $44
Look at on the chart, oil fell under the old range and the strong support became strong resistance.
I don't believe Oil could break this strong resistance and favor more agressive downtrend to year low $28.45
THE PROBLEM DOESN'T COME FROM DEMAND AND SUPPLY BUT HIGHER.
THERE IS A " DARK FORCE" WANTS OIL DECLINES. THIS IS A CONFLICT INTEREST AMONG POLITICAL FORCES.
I THINK OIL PRICE WILL RAPIDLY FALL BELOW $30 .
WITH FORECAST BETS ON OIL FALL, I CONTINUE BUYING USDCAD.
