US OIL Resistance Area

US OIL is coming into multiple resistance area. Not only is demand not there to support prices (Airlines, working from home as examples)
Higher rates, stronger dollar, & pre covid price benchmark with 3.4% unemployment
do not support rational price levels. Key word RATIONAL. I remain bearish in oil.

تعليق:

OIL breaking down looking good for the short posted. Risk reward paid off.
I am sorry to PEAK OIL it's going to $100 crowd.

تعليق:

After completing an ABC wave up into resistance OIL has struggled against long-term resistance.