faronf

dusk before the dawn

OANDA:WTICOUSD   West Texas Oil
I think we head remarkably lower before we break out of this long-term downtrend. The triangle will be breached eventually, but I believe the $35 target level may be in order this year before moving higher again. What will they use as an excuse for such a scourge? "Saudi/OPEC turns on the taps to fight US Shale oil market share?"

Comments

well, we did see Saudi/Russia disagreement over production and of course COVID-19, which takes us to generational lows...now seems ripe for a new cycle to begin. WTICOUSD today at $18.30, futures trading in the $10-$11 range. We are getting close to bottoming, but could play out still over the next month or two.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out