After reach 38, wti will probably resume fall and get to around 20$, wich in my analysis can be a bottom zone from where the Oil will surge to a larger recuperation.
62.61 then 51.94 then probably 41 is next not 38, before it falls. Downward - 36.26 then 26.91, probably 16 is next?? Just an intuition? Who knows?
ChristopherMorganGilcrest
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Hopefully that chart performs better than the grammar and punctuation in the explanation. A chart is worthless in this circumstance anyway. Oil is trading not in the fundamentals of supply, demand and production but producer's "smack" talking of the market upwards. Oil is going into the low 40's and will pull back as soon as the Sunni petro states loose their ability to frustrate shipments out of Shi'ite Iran. It is the lack of Iranian oil that was expected by now that allows for the market to move upwards with this jaw-boning bearish talk from major producers.
f1l1per.
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Your comment is worthless to my chart. There are other places which you can whine about fundamentals and politics. Thank you.
managingchaoscapital
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I totally agree, already ordered a short at 38.6:)