ridethepig | Oil Market Commentary 2020.03.20
Updated
You can smell the struggle for buyers in the air, the retrace should first be faded at the next technical breakdown as smart money insists on elimination of the base. After the attack, we can start to look at forming a new base, rinse and repeat! If you wish to undermine construction, you naturally will not make it in this game and likely not as an architect either.
Example, after the OPEC desperation leg:
The ornamentation would naturally follow automatically. After Russia showed signs of buckling on the supply side there was a lot of panic covering from the soft hands. Buyers played somewhat naively, as though the Saudi's would not see this and play something like a break towards $15!
That is the logical way for things to develop here. Smelling another test of the lows as early as next week... Very simple. Try to take on the first breakdown, if we deliver a powerful blow then run with momentum for the lows. And always start with the big chief!
Thanks as usual for keeping the likes and comments rolling!
Example, after the OPEC desperation leg:
The ornamentation would naturally follow automatically. After Russia showed signs of buckling on the supply side there was a lot of panic covering from the soft hands. Buyers played somewhat naively, as though the Saudi's would not see this and play something like a break towards $15!
That is the logical way for things to develop here. Smelling another test of the lows as early as next week... Very simple. Try to take on the first breakdown, if we deliver a powerful blow then run with momentum for the lows. And always start with the big chief!
Thanks as usual for keeping the likes and comments rolling!
Note
Crumbs away from the $24 target Trade closed: target reached
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