My dear OIL, where are you going now?
Hi Folks:
Current events have sent prices to a fresh high. I believe I am right in basic fundamentals but the attacks from the Houthis to UAE have been one of the main reasons for today's rally. Surprisingly it always happen at the same time, so big fellas are pushing prices higher and higher and we will need to wait till they decide to take profit.
The image below shows clearly the uptrend and the possible next target for bulls. So at this point we will have a lot of volatility and anything could happen both ways. A new attack could send prices flying, a message from someone could send prices plummeting, so unless you know what you do, better take a pause and look for further price developments.
Oil seems to be heading to 89-90 area, followed by 95. As always, take your positions at the edges and extremely careful
STAY SAFE. Cheers
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Current events have sent prices to a fresh high. I believe I am right in basic fundamentals but the attacks from the Houthis to UAE have been one of the main reasons for today's rally. Surprisingly it always happen at the same time, so big fellas are pushing prices higher and higher and we will need to wait till they decide to take profit.
The image below shows clearly the uptrend and the possible next target for bulls. So at this point we will have a lot of volatility and anything could happen both ways. A new attack could send prices flying, a message from someone could send prices plummeting, so unless you know what you do, better take a pause and look for further price developments.
Oil seems to be heading to 89-90 area, followed by 95. As always, take your positions at the edges and extremely careful
STAY SAFE. Cheers
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.