Fundamentally I think crude oil is overbought at the moment due to multiple reasons. My main concern is from the corona virus as many strong economies are starting to recover, the virus is still in the expansion stage in many emerging economies. Oil is a necessary commodity for these emerging countries as their economies are built off the industrial sector, for...
Here we can see on the hourly chart on USD/CAD that the upwards movements have been loosing momentum as each upwards move has taken longer periods, this can indicate a structure change which lines up well with technicals as it hit and bounced off a strong daily trend-line. Price broke the hour/ 4 hour red trend-line and has started to retrace, i am anticipating...
