Technician

Oil: Potential Short Term Directions

FX:USOIL   Crude Oil (WTI)
2358 11 59
Outlined on chart my playbook and potential scenarios for oil             in the short term(Few days).


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Technician
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Hey Technician, I really see oil staying on the low side of $30 level, especially after yesterdays statement of no cut in production from Saudi Arab prince, I believe. MY simple plan is to keep selling the rallies. All the BEST mate :)
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piratachile moneymaking
Agree!!, also I opened long USDCAD
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Do you think they will announce to you when they cut?! LMAO.
Then price would run to 50 in 2 days.
They are already cutting production...
The USA and the EU needs inflation. Oil prices simply cannot stay this low anymore.
Mark my words: 15th Feb was the last day sub 30 oil prices. you will never see oil below 30$ in your life.

One more thing : if you think oil prices are set by Saudis you are wrong. The price 100% set by the USA.
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Good too see this post. Also looking for it to get to 26 area. Lets see! :)
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Great chart, very clean.
+1 Reply
Looks like the Main scenario (blue arrow) is evolving.
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masterahmed Technician
nice chart where do you expect it goes after Friday
?
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Technician TOP masterahmed
I expect more sideways fluctuations below 116.00. Before probably moving lower again.
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masterahmed Technician
116 ?i am talking about crude oil
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Technician TOP masterahmed
Ops sorry. I think we will probably see renewed downside this week.
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masterahmed Technician
me too thanks deer
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