Looking for sub 50 oil. the triangle is essentially drawn between the 200week moving average and the sloping trendline.
Target would be slightly lower than 50, which would line up with historical support...
USA could reload strategic reserves here and HODL the price.
This scenario seems most likely to me, given that stocks look toppy, dollar looks bottomed. AKA economy headed down finally.
Target would be slightly lower than 50, which would line up with historical support...
USA could reload strategic reserves here and HODL the price.
This scenario seems most likely to me, given that stocks look toppy, dollar looks bottomed. AKA economy headed down finally.
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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.