QUICK UPDATE - Beginning of week 16-20
Hey peeps... oil closed on Friday night at 68.48 and gapped down a lil bit on NY Midnight Open ... from there it has continued straight to 68 levels... I am expecting oil to reach 67 levels at first.. with all this "BAD CHINESE ECONOMIC DATA" followed by a dump to 66.3 which would play a crucial role in "direction taking".
OIL is still in a downtrend... expect to see small retracements from time time... do not forget.. we have dropped from 78 to 64.8 in less than a month...14% quite a big number.
I can still see oil achieving new lows before even starting the flip into an uptrend...
stay tuned.. I ll post an idea tomorrow after NY session... things would get clearer.
Trade safe and green!
OIL is still in a downtrend... expect to see small retracements from time time... do not forget.. we have dropped from 78 to 64.8 in less than a month...14% quite a big number.
I can still see oil achieving new lows before even starting the flip into an uptrend...
stay tuned.. I ll post an idea tomorrow after NY session... things would get clearer.
Trade safe and green!
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