WTI Crude is Too Strong - Heading towards $43 - $48

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  • WTI Crude is Too Strong - Heading towards $43 - $48

Regrettably, the technical divergence witnessed recently on WTI totally failed. Oil is simply too strong, with world economies opening up.

Couple of days ago I had this chart with my observations noted:


It seems quite clear that price is heading to $43 at least, possibly $48, where it should meet its ema(200).


 

My view on the markets have changed couple of days ago, the tide seems to have turned, checkout my analysis on the markets for further insights.


Its best to stay Long until we hit ema(200) and/or another resistance. Oil will become overpriced at some point. We may see another wave of lock downs coming within few short months, should should signal another drop in oil.


 

  • Admin
  • 03 Jun 20
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Oil

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