Something crazy is going on with Oil. We are seeing a long term wedge being established. Zooming in at the top end, we will see that Brent is likely to correct down to near 70 before going back up to 80. However from around the $80, (possibly at most 90), we could see a big long term downward correction down to around $40-$50 range.  But t...

Oil , Gasoline etc quite over bought, we need a correction.Lets take this down to 2.175 and re assess. i imagine there will be a pause there before any further falls.Dont expect downward movement to last long though, oil is very strong generally... so its quite risky shorting, but i can let this opportunity go with a tight stop loss.

Will Brent come back down to 74.25.On 15m and 1 hour it look a bit unrealistic. But on 5 min it’s a very realistic wedge. Shallow and wide. Which usually comes back to base or lower.Lets do a short trade with a tight stop loss. 

It's still very early days, Possibly a long term wedge on DAILY.Suggesting BRENT most likely will reach $75 before reversing. RSI showing some strong divergences. And long term should come back to $40 per barrel. Which would be after the Post Pandemic Rush. But this target could edge up as Brent edges up and reaches 80.&nb...

Brent came down exactly as expected yesterday with EIA results not giving much reason for further increase.Formed a wedge during teh fall, expect price to retrace to around 72.3 today. nice quick opportunity there.

Gasoline seems to be topping out. I was surprised that it exceeded the previous high actually.Moomentum is slowing down, MACD and RSI showing divgernces with the price.Expect price to retrace down by about 61% of the up move.Target = 2.11