The OPEC Euphoria has WTI in a jagged upswing and today was followed by a precipitous drop in parabolic fib Now it is necessary to see clear divergence in a rollover. *5% probability of a retracement to the median range level of this 3 week block extrapolation to 40.27 , the halfway point to full bottoming trend within the Bullish greater channel
Comments
summer6
⋅
nice chart, let's wait and see. :)
Cash-man
⋅
Solid analysis... Only concern is the Dec 10 OPEC/NOPEC meetings... Bit of a wild card there and could swing things either way with any hint of news cut/no cut related.
Arkbuilder
⋅
67 dollar oil by May 21st in time for Spring in Canada