Much Like Gold, Oil Charts are looking 50:50 technically, and the election has a lot to do with this.
If Oil Corrects upward, expect 47 top. There are plenty of bottoms on multiple scales saying a correction makes sense technically.
However, If it keeps dropping for political reasons or OPEC announcements, expect high 30's.
Regardless, Oil will be Bearish on longer trends.
If Oil Corrects upward, expect 47 top. There are plenty of bottoms on multiple scales saying a correction makes sense technically.
However, If it keeps dropping for political reasons or OPEC announcements, expect high 30's.
Regardless, Oil will be Bearish on longer trends.