QUICK UPDATE - Beginning of week 16-20
Hey peeps... oil closed on Friday night at 68.48 and gapped down a lil bit on NY Midnight Open ... from there it has continued straight to 68 levels... I am expecting oil to reach 67 levels at first.. with all this "BAD CHINESE ECONOMIC DATA" followed by a dump to 66.3 which would play a crucial role in "direction taking".
OIL is still in a downtrend... expect to see small retracements from time time... do not forget.. we have dropped from 78 to 64.8 in less than a month...14% quite a big number.
I can still see oil achieving new lows before even starting the flip into an uptrend...
stay tuned.. I ll post an idea tomorrow after NY session... things would get clearer.
Trade safe and green!
OIL is still in a downtrend... expect to see small retracements from time time... do not forget.. we have dropped from 78 to 64.8 in less than a month...14% quite a big number.
I can still see oil achieving new lows before even starting the flip into an uptrend...
stay tuned.. I ll post an idea tomorrow after NY session... things would get clearer.
Trade safe and green!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.