Why Crude Oil is Likely Heading For a Major Decline
Chart is self-explanatory:
Multiple Technical factors suggest the "MOST LIKELY" scenario is a down move for oil 0.73% in the coming weeks to months:
- A retest of major long term trend line ( from 2008 all time high)
- A retest of major long term price barrier at 75/barre
- Divergence between Copper 1.34% and Oil 0.73% for more than 10 months.
- Swing failure technical setup on Relative strength index indicator.
Note: nearly 80% of the head and shoulders bottom ideal target was reached.
Multiple Technical factors suggest the "MOST LIKELY" scenario is a down move for oil 0.73% in the coming weeks to months:
- A retest of major long term trend line ( from 2008 all time high)
- A retest of major long term price barrier at 75/barre
- Divergence between Copper 1.34% and Oil 0.73% for more than 10 months.
- Swing failure technical setup on Relative strength index indicator.
Note: nearly 80% of the head and shoulders bottom ideal target was reached.
Nota
Warning new development: Saudis threaten that if punished over Khashoggi they will react. That might push oil prices higher in the short term before any plunge.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.