The left move is starting from demand, sees 3 compression moves and supply eaten - price moves up. Mind the curve. Price gets rejected and moves into a bearish channel. Channel is broken on demand and we see a similar move that ends in a rejection, price moves accordingly (this would have possibly been short), then moves up and gets demanded again(perfect short). The move is forming a big fuck you (kangaroo tail) and is going down to at least the pivot zone, but I can see it easily go to $54.
With future ending soon and ARAMCO possibly not able to artificially keep the price up, might drop like it's hot and go SNOOOOOOOOOOOP to the '50s.
With future ending soon and ARAMCO possibly not able to artificially keep the price up, might drop like it's hot and go SNOOOOOOOOOOOP to the '50s.
Comment:
Oil raning for now. Still believe next time it will break BLUE it will follow trajectory
Comment:
*ranging