GordanGekko
Short

SHORT OIL / Brief Breakdown

FX:USOIL   Crude Oil (WTI)
Just a brief breakdown of the recent Oil             decline. Recently broke below the $30 mark which saw price retest this for resistance and continue to sell off.

I believe that we can see more downside on Oil             and will be a confident buyer at $25.13-$23.61 and $17.63-$16.11

Great zones there for buying Oil             which are the only 2 key supports that I see now that we are below the $30 mark. I expect further downside.
snapshot


Just an update from the above, the targets for the decline and those targets I am looking for long term buys at.
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GordanGekko GordanGekko
snapshot


Just an update from the above on the strength of those support zones down there. This chart is the monthly chart and shows previous solid bounces from these zones which lead to the price of OIL racing above $100.

So those levels I mentioned was not just random levels, they do have relevance to the market price action history.
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