What appeared to be an action to trigger the rise of crude price by OPEC seems not to work as any further bearish candle below my counter trend will see the oil price fall up to $70 per crude as against $110 earlier anticipated because of the bullish momentum of last week. As a smart money trader, i will be monitoring this till later part of Monday trading day.
strong rolling into 2021 possible.but a tiny drop can happen here first.
Another Trading Snack! Using my weekly chart I’ve formed this oil trading bias for some time. That and I deeply respect the EW 5 wave patterns on longer time charts. Let me explain... Yes that’s right! I suggest that new lows could come in price action on the WTI even though the oil war had come to an end as some pundits were reporting in the news. I have...
Many seemed to believe with the oil war over and the 10 million cut in supply that this would’ve caused price action to rise at the next opportunity. I mean Algo’s would have driven price higher off this kind of news right? The worlds industrialized nations have been filling their tanks as oil was falling—now that the world oil production agreements have come to...