This is a f/u to a posting in October of 2020 when I favored oil was likely to rise and a posted this target box. (see link below). The target has box in now entered. Price is at the long term downtrend line. (see a weekly chart) My RSI target is hit. We are close to the previous high of January 2020. The RSI is in overbought territory. Of course it could still keep going up. But this is getting to risky territory to me. SO watch closely for signs of reversal. Folks are using less gas than normal due to Covid. Part of the recent uptrend is related to the Texas freeze. But that will resolve soon I suspect.
IF you make some $ based on my October 2020 prediction please let me know. I like sharing these ideas but it takes time. It is not worth doing if is not helping anyone. I am not commercially motivated and make no $ from these posts. I do it because so many others have helped me over the years.
Process your way. And best to ya.
IF you make some $ based on my October 2020 prediction please let me know. I like sharing these ideas but it takes time. It is not worth doing if is not helping anyone. I am not commercially motivated and make no $ from these posts. I do it because so many others have helped me over the years.
Process your way. And best to ya.
