UPDATE: $48 on WTI Crude Oil is a good r/r LONG Short

West Texas OilOANDA

Description

⋅ Feb 26, 2019 10:55 AM

Demand is trending at a steady 1.5% YoY, the decline was entirely driven by supply-side shocks. The OPEC rhetoric to cut production is favorable for price big picture but the chart is suggesting lower first into an ideal target of $48.