I KNOW it sounds crazy that the oil should go further down.
But:
- So did the most think when Oil prices went from 120 to 90, 90 to 50 and so on.
- The support and trendline couldn't make it
- Oil constantly makes lower highs
- The highs since the top is quite similar to the ones from the bull up to July 6th.
Can't help thinking that this is a reverse movement.
I usually don't use fundamental for my trading (like it or not - PM if you wanna discuss) - but several fracking companies in US have a breakeven at 30 dollars so it's not unrealistic at all.
Trade carefully :-)
But:
- So did the most think when Oil prices went from 120 to 90, 90 to 50 and so on.
- The support and trendline couldn't make it
- Oil constantly makes lower highs
- The highs since the top is quite similar to the ones from the bull up to July 6th.
Can't help thinking that this is a reverse movement.
I usually don't use fundamental for my trading (like it or not - PM if you wanna discuss) - but several fracking companies in US have a breakeven at 30 dollars so it's not unrealistic at all.
Trade carefully :-)