zcsniper

Oil sitting low last week, Monday open with a 50% rebound vs H:L

FX:USOIL   Crude Oil (WTI)
50 0 1
Hard to say where this might go.. this rebound was indicated on Friday after all the Oil             falls. I we might see it target around 73-75 and support around 68-73 for the next month (speculative no actual data behind this) but - on the fib retrace it looks like we just hit 50% on a rebound from 72.79H and 64.17L. might be safe on the 68.48 line.. but the second it breaches we'll definitely see it reach over 70 again

" Firstly US against Russia aim is to cripple them. Then the OPEC war on US for over supply. In my research today it appears the US producers have another 9 months of investment in place to keep pumping at ultra low prices. Talk is they make money down to $20 but see $33 as a target. Apart from deep sea drilling the shale exploration can be turned off and then back on only taking one day to gain full capacity again."
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