Crude oil coming closer to Strong supply zones
Crude Oil has been in counter uptrend since june 21st 2017 and will reach a strong supply zone around $50 to $52. I am expecting a reversal from there in 1-2 weeks from today.
After the market opens on monday, the crude oil is expected to trade above $47.70 for a few days till it come closer to $50. As it comes closer to $50 expect sellers to step in, and slowly supply will exceed the demand. And as supply get stronger from $50 to $52 a reversal of trend is expected.
After the market opens on monday, the crude oil is expected to trade above $47.70 for a few days till it come closer to $50. As it comes closer to $50 expect sellers to step in, and slowly supply will exceed the demand. And as supply get stronger from $50 to $52 a reversal of trend is expected.
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