WTI H4 Jan contract end of week
Since the Green Arrow appeared on Dec 4, WTI has advanced ~300 pips, reaching the 60 level, but not closing above. The EMA20 line supported the advance. Perhaps 60 will be breached next week.
As long as the equities markets do not run out of Greater Fools, they may pull oil higher.
Demand slippage is reality, while artificial efforts are made by producers to support prices. How long can reality be ignored by oil and equities?
Since the Green Arrow appeared on Dec 4, WTI has advanced ~300 pips, reaching the 60 level, but not closing above. The EMA20 line supported the advance. Perhaps 60 will be breached next week.
As long as the equities markets do not run out of Greater Fools, they may pull oil higher.
Demand slippage is reality, while artificial efforts are made by producers to support prices. How long can reality be ignored by oil and equities?
3