LastBattle

A bit more downside to come

FX:USOIL   Crude Oil (WTI)
There's a strong support for oil             at $37.72 and I believe that will be the bottom in the coming months.

It is only bouncing given the extreme oversold condition and that does not change the fundamental fact of an over supplied oil             market and many more that are stored in offshore tankers. I highly doubt the long term log trend in black will hold. (Temporary bottom of $47)

At this point you wouldn't want to be shorting, other than waiting for an opportunity to long once the confirmation is in.

UWTI             USO SDRL             XLE            
LastBattle
2 years ago
snapshot


Pretty good buy if you're looking at monthly trend. :)
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ChimbOt PRO LastBattle
2 years ago
nice find :D
Reply
ChimbOt PRO
2 years ago
I don't think wicks show strong support. Rather candle bodies :D
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