"Hard to say where this might go.. this rebound was indicated on Friday after all the Oil falls. I we might see it target around 73-75 and support around 68-73 for the next month (speculative no actual data behind this) but - on the fib retrace it looks like we just hit 50% on a rebound from 72.79H and 64.17L. might be safe on the 68.48 line.. but the second it breaches we'll definitely see it reach over 70 again
Firstly US against Russia aim is to cripple them. Then the OPEC war on US for over supply. In my research today it appears the US producers have another 9 months of investment in place to keep pumping at ultra low prices. Talk is they make money down to $20 but see $33 as a target. Apart from deep sea drilling the shale exploration can be turned off and then back on only taking one day to gain full capacity again."
Today: Shorting from 68.5 down to 65.75 but ultimately keeping short near $59.35