OIL FUTURES, These FACTORS Will Move To The HUGE SELL-OUT!

Hello There!

Welcome to my new analysis about OIL FUTURES on the 2-day timeframe perspective. In the past times important changes have reached the fundamental landscape of the OIL FUTURES accessments. As inflation is coming down this simultaneously has an effect on the oil prices which pumped up last year and now the disinflation events are also leading to a decline in the price-action of the OIL FUTURES prices. Furthermore, main investment banks forecasts expect lower prices for OIL FUTURES as well, such as Goldman Sachs mentioning that despite huge supply still remaining in the market there is not enough demand to reach out to the supply indicating a drop in prices. Many investors are speculating on a drop in the prices and from a fundamental perspective the indications also show a high likelihood possibility that this will happen.

From a technical perspective as marked in my chart OIL FUTURES are trading within this continued downtrend forming several lower highs and lower lows down the line engraining this major downtrend that established. In the most occasions a massive drop is going to follow up within such a determined and prolonged downtrend as soon as a certain amount of longs are triggered and stopped out this will lead to increased volatility movements and a sharper drop in the prices compared to what OIL FUTURES developed within the recent times. Also important to consider here is the 50-MA which is serving as a main resistance level combined with the protracted ABC-wave-count with the wave B forming a decisive triangle formation ready to breakout and form the main wave C.

Thank you everybody for watching. It will be great when you support my idea and we move on forward together.

VP

Comment:

The triangulated formation is moving forward and shaping into a new direction.