I'm looking at this thinking, there is potential from $57 USoil will meet heavy resistance.
If a pull back ensues, I'd expecting a retraction of price until 30 trading days (March 17th), I'd target a price pull back of 15% (around $48).
Maybe over longer time frames, in 100 trading days, it is could drop much further, but there are no instruments to take advantage of that kind of move available as far as I know.
In the time period of this bearish scenario, the market should pull back, especially financial sector, energy sector and industrials.
If a pull back ensues, I'd expecting a retraction of price until 30 trading days (March 17th), I'd target a price pull back of 15% (around $48).
Maybe over longer time frames, in 100 trading days, it is could drop much further, but there are no instruments to take advantage of that kind of move available as far as I know.
In the time period of this bearish scenario, the market should pull back, especially financial sector, energy sector and industrials.
Note
Note
Supports at $55 and $53.90Note
As for longer time frames, I'm still looking at a large retracement over next 100 trading days (until around September/October time)Note
Note
Note
For the market is to carry on trending up, it needs to get over this speed bump.Note
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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.