Based on NPD # 205 & 210 of Abonacci tools, Oil will fall down to 50.87 & 50.57
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Disliked30 points today, need to finish early, I think much more upside to come, could be wrong, 52.80 still key level for now Good luck {image}Ignored
WTI (futures on Nymex) stalled it two-day recovery momentum and fell back into the red zone this Monday, as global economic slowdown worries regained market attention amid escalating global trade war.
Markets continue to remain wary about a potential US-China trade resolution while the latest retaliatory tariffs announced by Indian on 28 American products also continue to undermine investors’ sentiment.
However, the downside appears cushioned amid rife Middle-East tensions after two oil tankers were attacked last Thursday and the US suspected Iran behind the tensions, triggering a fresh round of risk-aversion across the board.
Moreover, the recent comments by the Saudi Arabian Energy Minister Al-Falih, backing the case for the OPEC output cuts policy extension, could also offer some support to the bulls. “We are hoping that we will reach consensus to extend our agreement when we meet in two weeks’ time in Vienna,” Al-Falih noted.
The focus now remains on the trade developments and the US weekly crude supply reports for the next direction on the prices.
Disliked{quote} You're right, but I don't know why I have gut feelings that this wants to go lower, BUT the sells only under the line are safe 70% ^ {image}Ignored
DislikedHello everyone, still little movement today,cannot see this keeping still too long, D Li, what's the Dow doing today,Ignored
Disliked{quote} Hi D not much action today for the last couple of days it's ranging {image}Ignored
DislikedAny thoughts, D EDIT If all goes to plan, pullback to 26137 then back down!!!??? Should have closed the short, indicators were turning, I was half way right, it just carried on, test over D EDIT Still short for the record, DIgnored