US OIL is coming into multiple resistance area. Not only is demand not there to support prices (Airlines, working from home as examples)
Higher rates, stronger dollar, & pre covid price benchmark with 3.4% unemployment
do not support rational price levels. Key word RATIONAL. I remain bearish in oil.
Higher rates, stronger dollar, & pre covid price benchmark with 3.4% unemployment
do not support rational price levels. Key word RATIONAL. I remain bearish in oil.
Note
OIL breaking down looking good for the short posted. Risk reward paid off.I am sorry to PEAK OIL it's going to $100 crowd.
Note
After completing an ABC wave up into resistance OIL has struggled against long-term resistance.
Real Macro Economic Investing
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Real Macro Economic Investing
patreon.com/Realmacro
patreon.com/Realmacro
Related publications
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.