WTICOUSD - Oil weekly. Is oil ready to pivot?4/17/2020 OIL weekly chart
All the talking heads are saying how the C-19 virus destroyed the Oil and etc.
The truth is the oil peaked in 2008 and it is looking to be completing a 5 wave structures down.
Currently the oil is in 19 handle
I can see Oil may go down to the 17 handle
I can also say see that Oil met the minimum requirement to begin moving up from this area.
EVERYONE was bullish when oil was $130-$140
EVERYONE is bearish now when WTI is $19.xx and USO is at $4
