USOIL, It's time to short !
I'm expecting Oil will falling till 39 - 38.80 which is the 4th support in 30 days.
It's because of the fundamentals,
1. OPEC countries try to cut output, but US selling there inventories.
2. US Oil inventories data comes negative.
3. US drills new rigs, so new inventories to sell because they
want to collect 16 billion doller from Oil selling.
4. Mexico sells 10 blocks in the sea for Oil.
some retracement is there
looking forward towards the supports........
It's because of the fundamentals,
1. OPEC countries try to cut output, but US selling there inventories.
2. US Oil inventories data comes negative.
3. US drills new rigs, so new inventories to sell because they
want to collect 16 billion doller from Oil selling.
4. Mexico sells 10 blocks in the sea for Oil.
some retracement is there
looking forward towards the supports........
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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.