US Oil Analysis For the week ahead.
I am favoring towards seeing prices of 52.00 a barrel for USOIL this week.
My technicals illustrate. Acute bullish pressure into a proven resistance zone. This usually leads to a extension past the resistance zone.
Fundamental Comments:
US Energy firms cut seven oil rigs in the week to Sept 15. Bringing total count down to 749, least since June. Baker Hughes energy services firm said on Friday"-
I am favoring towards seeing prices of 52.00 a barrel for USOIL this week.
My technicals illustrate. Acute bullish pressure into a proven resistance zone. This usually leads to a extension past the resistance zone.
Fundamental Comments:
US Energy firms cut seven oil rigs in the week to Sept 15. Bringing total count down to 749, least since June. Baker Hughes energy services firm said on Friday"-
Comment:
Strong consolidation today in price. Leading me to believe the bullish pressure is holding. More anticipation for a extension. We shall watch closely.
Comment:
I am still in this position. So far decent. Alot of resistance to push thru. broke and closed above key figure 50.21. Time well tell. Thanks for following this trade.
Comment:
And Extension Past the highlighted resistance zone has been discovered. Stops Rolled to break even for protection. "Let your profits Run." Lets see if we can reach profits. at 52.00
Comment:
Damn Nailed it guys. Cheers.