RB1988

Oil to $65-70

Long
OANDA:WTICOUSD   West Texas Oil
Looking for oil to complete the 3rd lower degree corrective wave. Weekly RSI is at a crucial level too. A weekly close below that green support line will see oil prices continue much lower. I do believe we've seen the low for oil for 2020. The effects of the coronavirus on reduced travel have already been priced in imo. We should see oil rebounding over the coming weeks as the world begins to recover and normality returns. Buying here and holding. Plan is to hold for at least 6 months. GL if you follow.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.