#CRUDEOIL / H4
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DislikedWe are back to the middle of the descending chanel. Above 73.40 towards 83. We also overbought and NY could retest the lows of 64. Last position closed.{image}Ignored
DislikedResistance held so far, below 73.60 towards 64.00, above 73.60 - to 83.00 In my view price might attempt to revisit circa $64. 00 - $60.00 support / lower chanel. Weekly chart {image}Ignored
Disliked{quote} Could test the 200 Week MA at $65. We need to see a rotation of money back into the energy sector in June. The inventories have been good but hedge funds are betting against crude oil.Ignored
DislikedOPEC+ meeting over the weekend. If they can't make money then supply will eventually be constrained to stabilize the prices. Rig count is falling.Ignored
Disliked{quote} All the cuts will do is put a floor under the pricing, mabe $70?Ignored
DislikedI wouldnt fall for this oil cut bullcrap by the saudis I didnt fall for it back in april when they cut the last time and wheres that got them LOLOLOL i market the day with a blue trendline that day after the announcement cause they made it on the weekend and price is 10 dollars a barrel lower and going lower still this cut will ensure a drop to 60 at minimum...dont get fooled by convention wisdom LOL i'll short oil at and above 75 https://apnews.com/article/saudi-oil...2a6cd66a9fffea {image}Ignored