on the next few days and possibly next week I see a retest of the 55 area of support for /cl before attempting to break the resistance area of 59. I don't see oil bullish until we get a clearer direction as to what is going to happen with OPEC in December. until then I continue to be bearish.
In the following my thoughts on oil. History repeats itself, i took all the black arrows that you guys see in the charts and clone them and measured out the following drop. all the drops had about the same percentage of loss.Additionally, oil continues to trend below the 15ema and continues its bearish path.
Next i see oil coming down to about 67 and we will...
I'm watching AMD on a potential double bottom play. we will see if this current support holds, otherwise i see the stock tumbling down to $18. The semiconductor space has been getting beaten down by tariffs and overall market conditions.
Within tomorrow or early next week we should expect to see a test of the resistance area of 96, if it fails to puncture thru this level i see it coming back down to the 95.50 level and eventually down to 95.