CRUDEOIL has fallen a bit during the trading session, only to turn around and show signs of strength. Ultimately,
the market is likely to see a lot of resistance just above though, and quite frankly ,
I think this week is fraught with all kinds of risk that could throw oil markets around. Because of this,
it is very likely that this remains a (sell on the rallies) type of situation, but that does not mean that it is going to be easy.
If we break down below the bottom of the hammer from the session that we are forming on Monday,
that opens up the trapdoor to much lower pricing perhaps down to the $30 level.
!!!!!!!!! OPEC+ holds its next full meetings on Nov. 30 and Dec. 1.!!!!!!!!!
the market is likely to see a lot of resistance just above though, and quite frankly ,
I think this week is fraught with all kinds of risk that could throw oil markets around. Because of this,
it is very likely that this remains a (sell on the rallies) type of situation, but that does not mean that it is going to be easy.
If we break down below the bottom of the hammer from the session that we are forming on Monday,
that opens up the trapdoor to much lower pricing perhaps down to the $30 level.
!!!!!!!!! OPEC+ holds its next full meetings on Nov. 30 and Dec. 1.!!!!!!!!!
