With increasing # of US oil rigs and subdued global oil demand, I am expecting the retracement strated from 40.00 to lose strength between 46.00 - 45.00 area and eventually another leg down towards 40.00. This formation supports my idea on technical side with a caveat; the price could go little bit higher and turn gartley into butterfly thus manage your...
More easing bias from RBNZ and perhaps direct NZD selling prospects on the fundamental side and bearish gartley formation on the technical front implies a good short opportunity.
