WTI USOIL
After consolidating off the 66.48 line but never threatening
long stops under here WTI has pushed 550 pips and more
higher to 72.28 so far. It's a little overbought in the near term
and looks like it will consolidate back to 70.69 and then
bounce 150 pips or so - and then come back again, doing so 3
or 4 times before it pushes higher still.
The...
WTI Crude Oil Minimum Medium Term Upside Target at 86.33
The Saudis are reported to need oil at $84 to balance their budget.
By happy coincidence for them the minimum upside target
created by the reverse head and shoulders is 86.33.
In the nearer term WTI is flipping in a 300 pip range with
support off the last highs at 66.48 and resistance at 69.48.
It has...