Just like everyone think GOLD is going higher, people are overly bullish oil because of the war, blah blah, *insert your fundamental bias here.*
The reality is, the chart looks like shit. Price just rallied directly into resistance and has now formed a lower high confirming resistance at $79.
The price of oil is going much lower from here.
I wouldn't touch this from the long side until we get into the green support levels.
Good luck to all of the people bullish oil here because it won't turn out well for you.
The reality is, the chart looks like shit. Price just rallied directly into resistance and has now formed a lower high confirming resistance at $79.
The price of oil is going much lower from here.
I wouldn't touch this from the long side until we get into the green support levels.
Good luck to all of the people bullish oil here because it won't turn out well for you.
Comment:
So far playing out