Crude Oil Short - Target $95, $85 , $75

The long term upper channel has been pretty strong resistance level from March 2021 to Feb 2022. From Mar 2022 to till now, it has served as pretty strong support level. I think with the overall market beaten down and white house noise on reducing on oil prices, we’ll see sector rotation from Oil to other sectors, mostly growth stocks. I see crude oil could up to $109-$110 and fall back to $95, $85 and eventually $75 before mid term elections.

Trade closed: target reached:

Target $95 and $85 reached in AUG and SEP. $75 target can be expected soon before mid term elections.