After seeing a failure of the IH&S earlier along with the weakness in the broader market, things are looking bearish in 2019. Im taking a look at this scenario with oil, that’s of course as long current conditions remain unchanged ( no trade deal between US and China, dollar higher etc)
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Well as you can see my thought on crude didn’t materialized. Price have been going up nonstop which has gotten it back to the previous trend line which it’s bullish but at the same time front month contract has been so elevated that a potential drop could materialize. The question isn’t when.