READ CAREFULLY
I KNOW it sounds crazy that the oil should go further down.
But:
- So did the most think when Oil prices went from 120 to 90, 90 to 50 and so on.
- The support and trendline couldn't make it
- Oil constantly makes lower highs
- The highs since the top is quite similar to the ones from the bull up to July 6th.
Can't help thinking that this is a reverse movement.
I usually don't use fundamental for my trading (like it or not - PM if you wanna discuss) - but several fracking companies in US have a breakeven at 30 dollars so it's not unrealistic at all.
Trade carefully :-)
But:
- So did the most think when Oil prices went from 120 to 90, 90 to 50 and so on.
- The support and trendline couldn't make it
- Oil constantly makes lower highs
- The highs since the top is quite similar to the ones from the bull up to July 6th.
Can't help thinking that this is a reverse movement.
I usually don't use fundamental for my trading (like it or not - PM if you wanna discuss) - but several fracking companies in US have a breakeven at 30 dollars so it's not unrealistic at all.
Trade carefully :-)
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.