MRO seems to be topping here at the weak fib 1.382, could struggle up to 1.618 @ $20 but starting to look less likely as it finds resistance under the trendline. Current rally likely to be wyckoff ST.
Plenty of bearish divergence on the weekly + MACD lines entangling.
Expecting a collapse back to lower trendline to hit a retracement fib depending on duration - probably sub $10.
@dRends35, "collapse incoming" 8mo ago. almost like you missed a 100% move or something.
dRends35
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@picklestoast, As i said a "slow burn" and it was a bit early at $20 but I have later trades also and so we got there in the end - MUCH more downside to come and ultimately i am and was correct.
Thinus5422
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Thank you for analysis. Short term crude oil is moving lower but longer term is a different story.
Juanymedio
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Great analysis 👍🏻
rmtg
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Interesting...what do you think of today's activity?