Time frame - Long Term
Overall Trend - Downtrend.
With crude oil potentially forming a rounding top, we may expect the price to go down until A ($20+) by Dec 2020 - Feb 2020.
Maximum upside for crude is at 53.50 - 56.50 range.
At the current price, trader are advise to trade in range.(Trade support resistance)
Avoid Friday or have tight stop loss on Friday as the price has a higher probable crash on one of that day due to black swan.
Overall Trend - Downtrend.
With crude oil potentially forming a rounding top, we may expect the price to go down until A ($20+) by Dec 2020 - Feb 2020.
Maximum upside for crude is at 53.50 - 56.50 range.
At the current price, trader are advise to trade in range.(Trade support resistance)
Avoid Friday or have tight stop loss on Friday as the price has a higher probable crash on one of that day due to black swan.
Trade active:
Short has been activated since the consolidated range has been broken.
Comment:
with the latest at strong support at 35.70. We will see this pattern to continue iwth up and down movement till next year along side with crude oil cycle.
