Last week, we correctly forecasted the price to make a new low inside the correction. For next week, we expect the price to consolidate and slowly break the resistance area and continue towards to orange trendline. Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Great analysis and I agree. Personally when I look at it from a Macro viewpoint, as opposed to a purely analytical chart analysis, I believe that some type of 'event' is destined to happen in the near future that will cause a price increase beyond 100/bbl. High oil prices are crucial to the heavily invested military-industrial complex. That's what my tinfoil hat is telling me, at least.